article thumbnail

How to Effectively Maintain Your Third-Party Auditor Account

Safety Services Company

Most third-party auditors grade contractors based on the following elements: Statistical Information: OSHA 300/A Logs, OH&S Statistics, TRIR, TRF, etc. Insurance Documents: General Liability, Automobile Liability, Limits, Workers’ Compensation, Experience Modification Rates, etc. 1. Monitor. 2. Review.

article thumbnail

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

Safety Services Company

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. The class rate, for example, is higher for ironworkers, as this is a riskier job class than the class rate for a category, such as “accountant.”.

professionals

Sign Up for our Newsletter

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

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. Industry Statistics. Considering New Accounting Software? The Best Time to Go Live is… » Why Construction-Specific Accounting Software Costs More than Generic Accounting Software. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |.

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. Falls trigger a lot of OSHA safety inspections, and they account for half of the top 10 violations handed out by the Office. “Struck-by” fatalities numbered 170 in 2019 , accounting for 15.4%

Safety 52
article thumbnail

Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. Industry Statistics. A safe work environment is one of the most straight forward ways to decrease workers compensation expenses. or higher, then it might be time to consider implementing a comprehensive safety plan to try and reduce your workers compensation insurance costs.

article thumbnail

Supplier Vetting & Compliance

Safety Services Company

Most prequalification sites grade contractors based on the following elements: Statistical Information: OSHA 300/A Logs, OH&S Statistics, TRIR, TRF, etc. Insurance Documents: General Liability, Automobile Liability, Limits, Workers’ Compensation, Experience Modification Rates, etc. 1. MONITOR. 2. REVIEW.

Safety 48
article thumbnail

Third-Party Auditors Helping Connect the Dots of Contractor Verification

Safety Services Company

Companies, often called Owner Clients or Owner Operators, and contractors both pay to secure an account with a third-party auditor, such as ISNetworld ®* , PICS ® , PEC ® Premier, ComplyWorks, and Canqual. per 100,000 for offshore workers, according to data from the Bureau of Labor Statistics , and you can see wherein the need lies.