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Factors to Know About Crane and Rigging Insurance

Construction Marketing

Fortunately, crane and rigging insurance provide protection and compensation. If your rigging company is hired to move and install this equipment, you should account for the possibility that something can go horribly wrong during installation. Physical damage – This policy compensates for the value of a physically damaged crane.

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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?

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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. Across the board, the industry average for EMRs stands at 1.0.

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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.

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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. .

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Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

When a subcontractor is uninsured, the business can still be liable for any property damage or injury to others. If your business is found to have caused an injury or accident, the other party will seek damages. Liability coverage is also a part of business auto policies if you collide with another vehicle and injuries occur.

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What Happens When You Don’t Wear PPE?

Work Gearz

Not wearing PPE can result in severe injury to yourself and to others around you. Experiencing injuries as a result of falling items or debris. Protects you from head injuries. Workplace injuries can happen- Injury risk is substantially increased by poor PPE compliance. It can result in the following things-.

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