Remove Claims Remove Compensation Remove Insurance Remove Statistics
article thumbnail

Carpenter’s Insurance: Who Needs It & Why

Levelset

Insurance is one part of a strategy to keep your carpentry business financially healthy. To minimize any financial damage, a comprehensive carpenter’s insurance plan is a smart bet. . What is carpenter insurance? Does a carpenter need insurance? Insurance serves another purpose.

article thumbnail

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. you will pay about 20% more for insurance.

professionals

Sign Up for our Newsletter

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

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. Financial distress can result from a lack of skilled labor and possible workers’ compensation insurance claims. . It’s no secret how dangerous — and unfortunately prevalent — falls are.

Safety 52
article thumbnail

Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. Industry Statistics. A safe work environment is one of the most straight forward ways to decrease workers compensation expenses. Fewer accidents also mean lower insurance premiums, which mean lower labor costs. Companies who have more claims than average will have a higher than average rate, for example, 1.6.

article thumbnail

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

Pro Builder

in 2020 occurred on construction jobsites, and between 25% and 30% of those deaths were related to home building activities, according to the Bureau of Labor Statistics (BLS) and the National Association of Home Builders ( NAHB ). Scott Smith, Selective Insurance Group. and a recipe that often makes safety a lower priority.

Safety 72