article thumbnail

A Plumbing Contractor’s Guide to Insurance Coverage

Levelset

Plumbing contractors should include business insurance as an integral part of their financial strategy. With numerous policies available, the plumbing contractor’s insurance landscape offers many ways for you to protect your physical and financial business assets. What is plumber’s insurance? Worker injury.

article thumbnail

What is Experience Modification Rate (EMR), and How Does it Impact Prequalification?

Safety Services Company

Insurance companies use the number to assess the cost of injuries and future risks. Lowering your EMR is important, as you can greatly reduce the amount you pay for workers’ compensation coverage. Your company has filed one or more workers’ compensation claims. you will pay about 20% more for insurance. Calculating EMR.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Empowering the workforce through digital transformation

Autodesk Construction Cloud

In 2022, Singapore recorded 46 workplace fatalities, a stark increase from the 37 recorded in 2021, 30 in 2020 and 39 in 2019. Showcasing this ability to insurance providers can help reduce insurance premiums and allow builders to divert funds to other more pressing issues such as worker compensation.

Safety 88
article thumbnail

Top 8 Construction Health and Safety Hazards — and Ways to Protect Your Jobsite

Levelset

According to data from the Bureau of Labor Statistics, falls accounted for more than 1 in 3 jobsite fatalities in 2019. “Struck-by” fatalities numbered 170 in 2019 , accounting for 15.4% Financial distress can result from a lack of skilled labor and possible workers’ compensation insurance claims. .

Safety 52
article thumbnail

Home Building by the Numbers

Pro Builder

In 2019, for example, the average profitability among the builders surveyed rose to 9.59% of revenue, up from 8.71% in 2018—the best performance since 2006, before the crash (see chart 1). Shinn’s analysis attributed the boost in 2019 to reductions in costs of sales and operations, while financing expenses were at all-time lows.

article thumbnail

Top OSHA Violations in Construction (2021)

Levelset

According to BLS data, falls accounted for more than 1 in 3 jobsite fatalities in 2019. The much bigger cause for financial concern is workers’ compensation insurance. Workers’ compensation insurance. Learn more about insurance – General Contractor Insurance: What You Need and Why. Compliance cost.

OSHA 52
article thumbnail

Shovel-Ready Sites: Ready To Hit The Ground Running

Business Facilities

From the July/August 2019 Issue. Iowa’s Certified Site Program takes into account national site location standards, benefits provided by Iowa’s natural resources and the needs of key business sectors, including advanced manufacturing, finance and insurance and the biosciences. By the BF Staff. States across the U.S.

Site 87