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Does GC Insurance Cover Subcontractors?

Levelset

General contractors know these risks when they take the role. At their core, insurance policies are agreements between two parties: the insurer and the policyholder. If a sub accidentally drops a steel beam on the project manager’s new sports car, that subcontractor’s liability insurance policy would likely cover the damage.

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Insurance for Electricians: What It Covers & Why You May Need It

Levelset

You pay pennies on the dollar for coverage that could range into the millions for general liability (GL) insurance, for example. Below is a list of coverages that can be obtained through a separate policy or amendment to an existing agreement. . General liability may help pay for the cost of repair. . Protecting your property.

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Additional Insured Endorsements & How They Work in Construction

Levelset

In short, an additional insured is typically another business entity or person who can be added to your business policy, securing the same liability protection that you do. An additional insured agreement allows a policyholder to extend their business insurance coverage to a specific third party. What is an additional insured?

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Unlimited liability for designers and contractors

Construction Lawyer

Sabo & Zahn LLC is an Illinois Limited Liability Company. You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. In other words, you use the stuff we post here at your own risk. Unlimited liability for designers and contractors.

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What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

If you’re bidding on contract work, you will likely need a COI per terms of a legal agreement. Aside from owners and GCs, a government entity may want to see proof of liability insurance. This party may want a COI to ensure they are protected from liability in the event of a product-related injury or accident.

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Final Countdown to Principal: Advice for Up and Comers

PSMJ Resources

related to becoming a Principal such as the Shareholder Agreement, Deferred Compensation Agreement, Buy-Sell agreement, Company By-Laws, Articles of Incorporation, Board Minutes, Budgets, business plans, strategic plans, and Annual Reports from the past several years. unlikely, you must be willing to take the risk.

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A lesson for Architectural Firms: be careful how you pay employees

Construction Lawyer

Sabo & Zahn LLC is an Illinois Limited Liability Company. You are not our client and we are not your attorneys unless and until you enter into a written retainer agreement with us. In other words, you use the stuff we post here at your own risk. This could be in the employment agreement or a separate document. Categories.