So what exactly is Builder’s Risk Insurance, and where does an installation floater come in? Well, put… builder’s risk protects a contractor from a loss during a construction project due to weather, fire, accidents, material defects, and poor installation or workmanship. Builder’s risk will provide funding to repair, repurchase, or reconstruct the covered loss for the benefit of all contractors working on the project. Builder’sBuilder’s risk provides coverage for all parties

Last week’s post briefly describes your workers’ comp experience mod and how it affects your premiums. This week we will discuss the importance of understanding the period over which your experience mod is calculated, how NCCI evaluates your prior losses, and tips for keeping your experience mod low. What is the experience rating period? An experience mod is calculated using loss and payroll data for an experience rating period. The experience rating period typically includ

The experience modification factor is a critical component of your workers' compensation premium. Understanding where this number comes from and calculated is a potent tool to help restoration contractors minimize their workers' compensation premiums. The majority of states work with the NCCI (National Council on Compensation Insurance) for determining the calculation on experience mods. Every year they adjust your mod factor either up or down, and your workers' compensat

One of the most frequent workers’ compensation claims associated with restoration contractors is falls. Employees falling off ladders, scaffolding, or even roofs is a severe issue, and a single claim can dramatically affect your insurance premiums. Every company should have a Fall Protection Plan that addresses the use of conventional fall protection at several areas on the project and identifies specific activities that require non-conventional means of fall protection. Du