construction risk management program is complete without a
comprehensive risk profile of pollution and professional
firms may have only an incidental exposure, the size and scope of
pollution and professional liabilities can devastate even the
strongest balance sheet. It's these, often uninsured, liabilities
that keep us up at night.
design-build projects, in-house design services, subcontracted
design services, or professional liability associated with "at
risk" construction management, most firms have an exposure to
professional activities to which the standard general liability
policy is not designed to respond.
all contractors face environmental liability whether it is on the
job site, during transportation, or during waste disposal
risk profile is evaluated, a protection system should be
established to avoid any uncovered liabilities if your firm is
named in a negligence action involving professional services or
Identifying Cold Stress Injuries
coldest months soon upon us in many parts of the country, dangers
of cold stress injuries become more prevalent. When an individual
works in cold conditions, their body temperature can drop below
normal, causing serious health conditions to occur.
with the highest rates of cold stress injuries include heavy
construction, oil and gas extraction, trucking and warehousing,
protective services, electric and gas utilities, and sanitation.
identifying ways to protect workers doesn't have to be difficult. This free
white paper from Amerisure Insurance will arm you and your
employees with the needed information to help avoid cold stress
Indiana Changes Workers' Compensation Exclusion
insurance carriers in the State of Indiana have included an
exclusion to commercial general liability, commercial auto,
commercial umbrella, and other similar liability policies.
wording excludes workers' compensation losses from being paid
out under these liability policies when an insured fails
to obtain from a contractor, or subcontractor if the
insured is a contractor, a certificate from the State workers'
compensation board showing that the contractor/subcontractor has
complied with the applicable workers' compensation insurance
this procedure is referred to as "Independent Contractor
Affidavit of Exemption". The process provides for exemption of
workers' compensation for entities that are sole proprietors,
partners, or members of an LLC that have no employees and/or do not
want to cover themselves for workers' compensation losses.
additional exclusion for workers' compensation came as a result of
a recent Indiana Supreme Court ruling where the Court ruled that a
farm personal liability policy can be used to compensate the
injured worker of an independent contractor that did not have
workers' compensation coverage, nor did the independent contractor
provide a valid Independent Contractor Affidavit of Exemption.
contractor utilizing subcontractors, it becomes even more important
to use the proper risk transfer techniques of either obtaining
evidence of a valid workers' compensation policy through a
certificate of insurance or by obtaining a copy of your
subcontractors' valid Independent Contractor Affidavit of Exemption
issued by the Indiana Department of Revenue/Workers' Compensation
Board of Indiana.
additional information regarding proper risk transfer techniques,
please contact us at 574-245-3532 or email@example.com.
Meet Bill Cerney: Gibson's Surety Practice Leader
Gibson's construction team as the surety practice leader in the
spring of 2012.
responsible for overseeing in-house financial statement
underwriting and analysis, working with staff and clients on bid
requirements and specification analysis, meeting with clients and
their accountants, and managing the overall surety
relationship. Bill's construction specific knowledge and
expertise complements Gibson's strong construction team and
bolsters Gibson's abilities to serve and bring value to all types
and sizes of contractors.
experience with a wide range of contractors - from small, local
contractors to ENR top national contractors, including general
contractors, specialty subcontractors, heavy-highway/civil
contractors, and architectural and engineering firms.
joining Gibson, Bill worked for over 12 years in public accounting
- gaining experience in performing and managing assurance,
tax, management and owner consulting services.
he has experience with job cost validation, process consulting,
internal control strength and weakness identification, succession
planning, incentive compensation plans, contract administration,
construction accounting systems, state pre-qualification reporting,
employee stock ownership plans, and various types of employee
Your Surety Relationship
is typically associated with insurance agencies, surety bonding is
not insurance. With insurance, a claim is paid using
the premiums from the other insureds.
the surety company ensures the project gets
finished. If not, they look to get reimbursed by the
contractor and other companies or individuals that agreed to
provide indemnity to the surety.
relationship is much closer to that of a banking relationship,
focusing on financial statement underwriting as well as
understanding the contractor's business.
environment with much of the available work coming from public
funds or private entities that are looking to ensure a
contractor will not fail, access to adequate surety credit can be
the difference between survival and closing up shop.
agent plays the critical role of getting you adequate surety
capacity and obtaining the most favorable rates that your
underwriting case will provide.
right surety advisor provides a distinct advantage when
presenting your case to the surety markets. This person should:
- Understand construction financial
statements in the seemingly ever-changing world of generally
accepted accounting principles
- Be able to communicate competently
with your CPA and understanding of the rules with which
- Take your information and present it
in the best possible light to the surety marketplace
Talk with us
to learn about our surety expertise and how we can help get you
connected with the right surety.
Contractor Insurance Is Not A Commodity
insurance programs designed for contractors are equal. While it may
be important to the bottom line, paying attention only to rates and
premium costs, may leave you lacking in important coverage areas.
certainly not a comprehensive list, the following gives further
insight to other factors that should be considered when evaluating
or comparing insurance programs for contractors:
- Insurance carrier should be a
long-term player in the construction world
A.M. Best rating of the carrier
should include coverage considered key to construction firms
- Per project aggregate
limits which broaden liability limits
- Blanket additional
insured endorsements that lessen the need to endorse
additional insureds on a specific job basis
- Contractors' equipment
that includes automatic coverage for equipment you lease,
rent, or borrow from others and newly acquired equipment
- Blanket installation
floater that protects your materials and labor designated for
a specific project
- Pollution liability that
extends to pollution incidents on construction sites and
- Contractors errors &
omissions which protects against errors made by specialty
contractors providing design services
us at 574-245-3532 or firstname.lastname@example.org to
discuss your construction coverage needs.