When working in the construction industry, contractors must take steps to protect themselves, their clients, and their projects. Two essential forms of protection are contractor bonds and insurance. While they may seem…
Tag: construction insurance
Self-Insured Retention in Construction
In the construction industry, risk management is critical. One way companies manage potential risks and costs is through self-insured retention (SIR). But what does self-insured retention mean, and how does it apply…
CCIP & OCIP: Controlled Insurance
In the world of construction, where projects involve multiple contractors, subcontractors, and stakeholders, managing risks effectively is crucial. One of the most efficient ways to streamline risk management is through Controlled Insurance…
General Liability Insurance for Contractors
Construction work comes with its share of risks, from property damage to potential accidents on-site. Contractors, in particular, face various liability issues that could result in significant financial losses. General liability insurance…
Types of Construction Insurance
When it comes to construction, risks are everywhere. From accidental injuries to property damage, unexpected events can disrupt projects and lead to significant financial losses. This is where insurance becomes crucial. Construction…
Builder’s Risk Insurance in construction
When working on construction projects, unforeseen events can happen—damage from storms, theft of materials, or even accidental fires. These risks can be costly for contractors, developers, and property owners. This is where…
Certificate of Occupancy in Construction
A Certificate of Occupancy (CO) is an essential document in the construction industry that ensures a building complies with local regulations and is safe for occupancy. It is a legal document issued…
Waiver of Subrogation in Construction
In the complex world of construction projects, various legal and insurance terms play a critical role in mitigating risks and ensuring smooth operations. One such term that often arises is the Waiver…
Understanding Construction Insurance: What You Need to Know
Construction insurance plays a crucial role in ensuring the safety and success of construction projects. Whether you’re a contractor, builder, or property owner, understanding the ins and outs of construction insurance can…