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9 Types of Insurance You Need to Protect Your Contractor Business

Construction Marketing

General Liability Insurance. This type of coverage will protect your company from various liabilities , including injury claims, and cover medical expenses. General liability also protects businesses if they cause damage to a customer’s property or if any product installations go awry, like faulty plumbing that causes leaking.

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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.

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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. General liability insurance : A GL policy may help cover the cost of bodily injury or property damage that occurs on a jobsite. General liability may help pay for the cost of repair. .

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Tax Reform Impact on Employers and Employees

Revit OpEd

Modification of limitation on excessive employee remuneration: Under current law, an employer generally may deduct reasonable compensation for personal services as an ordinary and necessary business expense. Code Section 162(m) limits the deductibility of compensation expenses in the case of publicly traded corporate employers.

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Severin Doctrine: It's Another Name for "Pass-Through-Plus" Claims

Best Practices Construction Law

A Transportation Example. The Severin doctrine has been applied in the highway and transportation industry. The subcontractor prepared an additional 70 shop drawings for total of 1,650 additional hours for which it sought additional compensation. For example, in Aetna Bridge v.

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Environmental Regulations in Construction: What Contractors Need to Know

Levelset

The Resource Conservation and Recovery Act (RCRA) is a federal law that governs the generation, transportation, treatment, storage, and disposal of hazardous waste. Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). This includes waste generation, transportation, treatment, storage, and disposal.

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15 Tips For Starting Your Own Roof and Guttering Business

Construction Marketing

You’ll also require the following: Vehicle that can handle transport of materials. Insurance, liability, and workers’ compensation . Limited liability company (LLC) . Start with General Liability Insurance and the Workers’ Compensation Insurance. . Roofing equipment and materials.

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