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Professional Liability Insurance Explained

Levelset

Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments.

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Construction quality management 101: Everything you should know

Lets Build

This is where construction quality management comes in. To that end, project mangers must have a construction quality management system. This post will delve into construction quality management to help you learn all it entails. Check out our construction quality management app, LB Aproplan !

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Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

The following standard financial ratios can help risk management teams evaluate potential trade partners during the subcontractor qualification process. Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Formula: Current Assets / Liabilities . Current Ratio .

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Construction in Winter: Safety Tips to Know

Safety Services Company

This will ensure your workers comply with safety standards and protect your company from legal liabilities or workplace accidents caused by winter-related hazards. You implement our contractor management services to set up your accounts and streamline the process.

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Construction Jobsite Safety: Strategies and Resources for Worker Well-Being

Pro Builder

Consider these elements of a training and awareness program to save lives, mitigate injuries, and reduce liability and costs . Scott Smith, corporate director of safety management services for Selective Insurance Group , a holding company for 10 property and casualty insurers, sees it more simply. Fri, 08/05/2022 - 07:00.

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Errors and Omissions (E&O) Insurance Explained for Construction?

Levelset

While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss. Errors and omissions insurance, also called professional liability insurance, is one tool that contractors can use to transfer risk away from themselves.

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YOUR PERSONAL LIABILITY FOR WORKPLACE SAFETY

Safety Services Company

In many cases, OSHA (along with other federal entities which oversee the management of niche hazards, such as the Department of Transportation) is the primary body which ensures employers are held accountable for their workers’ lives. The OSH Act covers penalties which can occur a result of safety compliance violations.