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What Is an Insurance Endorsement? A Contractor’s Guide

Levelset

When working in construction, your insurance policy gets issued as a fairly standard contract. Like a basic construction agreement, you can upgrade or downgrade your insurance policy just as a customer might do with the fit and finish of a building. What is an insurance endorsement? How insurance endorsements work.

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7 Ways Construction Companies Can Keep Their Workers Safe

Construction Marketing

You can enroll these employees or their managers in short online safety training courses for basic lifesaving and safety training. Skilled workers such as engineers and construction managers work with many unskilled manual workers, and their mistakes can affect an entire group of workers. Your TOA should forbid such acts.

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#91:  Liability Insurance for a Subcontractor's Defective Work

NH Construction Law

“May unintentionally faulty subcontractor work that damages an insured’s work product constitute an ‘accident’ under a commercial general liability insurance policy?” Mechanical Contractors, Inc. 2020 WL 3527909 (June 29, 2020). 2d 871, 880 (Fla. ”); Lamar Homes, Inc. Mid-Continent Casualty Co. ,

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Assignment of Benefits for Contractors: Pros & Cons of Accepting an AOB

Levelset

When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. They may not have the funds available to pay the contractor out of pocket, so they’re counting on that insurance check to cover the construction costs. Setting up an AOB.

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Construction Risk Management: What to do when your project goes wrong

Lets Build

There is a number of parameters that you should think about and an efficient management of the risk is surely necessary. Check out this #awesome construction risk management guide Click To Tweet. All these different hazards can be divided to the following categories: Project Management Risks. How to efficiently manage risk.

Risk 165
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Obtaining the Proper Bonding for Government Jobs

Construction Business Owner

MANAGEMENT |. ACCOUNTING |. INSURANCE |. General Management. Accounting & Finance. People Management. Equipment Management. In a way, a surety bond is like insurance; it is a three-part agreement between the contractor, the organization requiring the bond (e.g. Tags accounting.

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7 Things Contractors Need to Know About Retainage

Fieldwire

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. For many construction businesses, the retainage payment accounts for their entire profit margin on the project.