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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. If that number spikes, the reason is simple.

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The Danger of Over-Reporting on your OSHA 300 Forms

Safety Services Company

Per OSHA’s regulation 29 CFR 1904, employers with more than 10 employees are required to keep a record of serious work-related injuries and illnesses. For example, accidentally reporting an injury that did not occur on the jobsite or reporting a cut or scrape that isn’t a recordable accident could have dire consequences. What is TRIR?

OSHA 62
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Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

“If something goes wrong, liability could hit the GC’s policy, which dilutes liability insurance limits, negatively impacts their claims history, and forces them to deal with a claim that’s not really their fault.”. If your business is found to have caused an injury or accident, the other party will seek damages.

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

Levelset

Hazardous conditions can have both short-term and long-term financial consequences along with the possibility of work-related illness or injury. . According to data from the Bureau of Labor Statistics, falls accounted for more than 1 in 3 jobsite fatalities in 2019. These injuries often result in missed time or permanent incapacity.

Safety 52
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Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Accounts Receivable Turnover . Accounts Receivable Turnover is an activity ratio that measures how efficiently a firm uses its assets. A higher ratio indicates a stronger ability to collect on Accounts Receivable. .

Safety 94
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GIVEAWAY #5: AUTODESK SWAG PACK

Construction Junkie

By entering any contest, entrants agree to waive any and all claims against Contest Entities for personal injury, damage or loss of any kind which may result from participation in the Contest or from the receipt, enjoyment, ownership or use of any prize. This Contest is subject to these official rules.

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GIVEAWAY #4: MILWAUKEE TOOL PRIZE PACK

Construction Junkie

By entering any contest, entrants agree to waive any and all claims against Contest Entities for personal injury, damage or loss of any kind which may result from participation in the Contest or from the receipt, enjoyment, ownership or use of any prize. This Contest is subject to these official rules.