Insurance Checklist to Assure Coverage for Fall 2021 Is it common during autumn to prepare your home for the potentially harsh weather that winter brings. Fall is a critical season for maintenance and identifying problems before they arise. In this article, we will help you establish an insurance checklist to ensure you have coverage thisRead more
What is Builder’s Risk Insurance? Builders’ risk insurance, also referred to as course of construction insurance, is a type of property insurance. Its specific purpose is to protect buildings while they are under construction. Contractor builders’ risk coverage is complex because there are no standard policy forms since every construction project is different. As aRead more
Captive Insurance vs. Self-Insurance Because many companies do not know the details of captive insurance and self-insurance, many decide to go with a traditional insurance plan. While all three are great ways to cover your organization for losses, captive insurance and self-insurance can help save money. It is important to understand all your options forRead more
What Insurance Do Subcontractors Need? Whether you are a subcontractor or a contractor working with subs, knowing what insurance you need is important. Subcontractor insurance is not a requirement, but a contractor can stipulate a subcontractor carries certain coverage. Sometimes employers may refuse to hire a subcontractor without the right insurance coverage. If a subcontractorRead more
What is a Waiver of Subrogation Rights & How Does it Work? A Waiver of Subrogation Rights is a contractual agreement where an insured waives the right of their insurer to “step into their shoes.” This means the insurer cannot go after an at-fault party for recovery after settlement to the insured or a thirdRead more
What to Do if a Subcontractor Does Not Have Liability Insurance When working with subcontractors, it is important to make sure they have the right insurance protection. This can get confusing when you are dealing with many people on several projects. Additionally, some contractors do not even know what insurance they need to require forRead more
The Most Important Supply Chain Risks for Manufacturers In supply-chain risk management, many organizations often do not know where to start. For manufacturers, the supply chain is always changing, and this means risks are always evolving. This could include supplier, process, shipping, and even finished product risk. Because of the speed at which risks popRead more
Steps to Achieving Operational Resilience Businesses of all sizes face operational disruption. One of the most important things for businesses to achieve is the ability to come back from these disruptions. This is what we call Operational Resilience. Operational Resilience is an organization’s ability to predict, mitigate, respond to, and bounce back from disruptions in operationsRead more
What is a Construction Defect & What Insurance Do You Need? Construction defects are common, just like the insurance claims that accompany them. These defects arise from faulty work, damaged materials, and even common mistakes. As a result, anybody in construction needs to understand what a construction defect is, how it happens, and how toRead more
Why Scenario Planning Matters in Risk Management Risk Management is all about predicting future risk events and ensuring there is protection in place for those risks. To be successful at Risk Management, organizations need to have a way to foresee and plan for these events. This is where Scenario Planning comes into play. According toRead more
