Remove Claims Remove Compensation Remove Liability Remove Safety
article thumbnail

Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

Extracting key ratios from financial statements and safety metrics from OSHA filings allows builders to gauge a subcontractor’s short-term and long-term health — and empower estimators with the data they need to make more informed bidding decisions. . Formula: Current Assets / Liabilities . Formula: Total Liabilities / Total Assets

Safety 94
article thumbnail

Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

“If something goes wrong, liability could hit the GC’s policy, which dilutes liability insurance limits, negatively impacts their claims history, and forces them to deal with a claim that’s not really their fault.”. General liability insurance. Workers compensation 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

Carpenter’s Insurance: Who Needs It & Why

Levelset

You can practice safety and use common sense on the job, but there’s no way to predict when accidents or injuries might occur. There are many policies that apply to a carpenter, but a simple business owner’s policy can include property damage and liability coverage. What is carpenter insurance? Does a carpenter need insurance?

article thumbnail

OSHA Testing Can Reduce Employer Liability, Saves Companies Money

Construction Law Monitor

million workers suffer serious injury or illness related to their jobs, according to a white paper published by Occupational Safety and Health Administration of the United States Department of Labor (OSHA).While While it’s not possible to prevent every accident, the need to promote safety in the workplace is obvious.

OSHA 59
article thumbnail

6 Dangers Of Falling Debris In Construction Sites

Construction Marketing

Regardless of the type of injury in the workplace, whether due to falling debris or poor safety practices, someone is always liable. Whoever is responsible for breaching their duty of care should compensate for the injuries. If the construction company fails to keep the site safe, they could face liability.

Site 156
article thumbnail

Does GC Insurance Cover Subcontractors?

Levelset

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. However, the types of policies and their limits (the maximum amount claims can pay out) are limited. General liability insurance. Subcontractor default insurance.

article thumbnail

October 2014 newsletter

FDR Safety

On-the-job accidents that result in worker deaths typically make news headlines, but for all the attention that news coverage brings to workplace safety issues, it misses an important point: more than 96 percent of fatal injuries occur outside the workplace. By Fred Rine. CEO, FDRsafety. Contact Fred at frine@fdrsafety.com or 615-370-1730.

Injury 120