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Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

Business insurance can help mitigate occurrences or disasters that can severely impact or destroy the good standing of your business. Let’s take a look a subcontractor insurance: when it’s needed, what happens if a sub goes uninsured, and what policies subs can use to protect their businesses from risk.

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What Are the Legal Safeguards for Getting Back to Work?

Pro Builder

What Are the Legal Safeguards for Getting Back to Work? As builders and trade contractors start to get back on track following the impact of COVID-19 and its restrictions, there are legal concerns to consider. Those answers will vary depending on the insurance plan. Mon, 07/27/2020 - 12:57. Mike Beirne, Senior Editor.

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

Levelset

Errors and omissions (E&O) insurance covers contractors against financial loss resulting from mistakes, errors, or claims of negligence. While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss.

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Job Order Contracting – Best Practices Implementation

Building Information Management

Taxes, insurance, fringe benefits, and vacation allowances are to be included in the Contractor’s coefficient. The Contractor shall procure and keep in force insurance with companies acceptable to the Owner conforming to a defined schedule. Typically JOC coefficients range from 0.80 Over 5,000,000.