The TSIB Team

Recent Posts

Risk Management: Minimize Your Company’s Risk & Avoid Future Claims

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Every construction project presents a host of potential risks that need to be addressed. Although it’s no guarantee that you can eliminate all of them; you can help manage them and de-risk your business. The best way to eliminate as much risk as possible is to have a Risk Management plan. Risk Management is the practice of identifying & analyzing loss exposures and taking steps to minimize the financial impact of the risks they impose.

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Topics: Surety Bonding, Safety, Construction Risk Management, Construction Insurance

Is Your Company An Attractive Risk For Underwriters?

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As the Insurance Hard Market continues, Carriers are reducing their appetite for risk. This means Carriers are not insuring:

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Topics: Safety, Hard Market, Construction Trends

Instill a Safety First Mentality to Navigate the Hard Market

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As your company’s insurance premiums start to renew, it’s important to understand that price increases are occurring because of the Insurance Hard Market. A variety of coverages are affected by this including General Liability, Excess Liability, and Builder’s Risk.

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Topics: Safety, Hard Market, Construction Trends

Tools to Combat the Hard Insurance Market

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As a Contractor, you are familiar with stiff competition, slim profit margins, and severe weather working conditions. One thing that you might not have been prepared for is the current Hard Insurance Market.

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Topics: Hard Market, Construction Trends

Construction Opportunities for Women Are On The Rise!

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The National Association of Women in Construction (NAWIC) and Safe Site Check-In shared the results of a workforce survey. This survey consisted of over 700 women in construction and was conducted in early February 2021, over a variety of construction jobs and titles.

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Topics: Surety Bonding, Contracts

How Contractors Can Work With Their Surety to Avoid Financial Ruin

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There can be a myriad of problems when a Contractor cannot fulfill its contractual obligation in connection with a construction project. This puts the Owner in a position to suffer a financial loss. In addition, the Contractor’s subcontractors and material suppliers may not receive payment from the Contractor for labor performed or materials supplied.

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Topics: Surety Bonding, Contracts

Does Your EPLI Policy Have a COVID-19 Exclusion?

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Employment Practices Liability Insurance (EPLI) policies are taking the spotlight in regards to claims related to COVID-19. EPLI is a type of liability insurance that covers wrongful acts arising from the employment process. Examples of claims covered under such policies include:

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Topics: Construction Commercial Insurance

Do you need to provide Employee Benefits?

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It can be hard to find good employees. So when you do, it’s important that you keep them. One way to accomplish this is to offer a good benefits package.

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Topics: Employee Benefits

The 4 Basic Steps on Writing a Construction Incident Report

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Accidents happen. Sometimes no matter how safe your company is, a claim can occur. It’s important that as an Owner/General Contractor your team knows what they need to do prior to any accident. Make sure you have clearly identified who will be responsible for completing the incident report if an accident were to occur (i.e. a Supervisor, etc.).

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Topics: Claims, Construction Insurance

The Importance of Mental Health Benefits in the Workplace

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If we have learned anything from COVID-19, it is that we all need to prioritize our mental health. As an employer, you might not think you should concern yourself with your employees’ mental health. That would be a mistake. Mental health affects your employees’ productivity levels, lateness, and time away from work. All these things can have a negative impact for your business. That’s why it’s crucial you have a good Mental Health Benefits package.

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Topics: Employee Benefits