The TSIB Team

Recent Posts

COVID-19 Business Interruption Court Rulings – U.S. & Abroad

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Small businesses in the United Kingdom (U.K.) celebrated a tremendous victory in the courts on Friday, January 15, 2021. The U.K. Supreme Court dismissed appeals by six insurers – Hiscox, RSA, QBE, Argenta, Arch and MS Amline – determining that “many thousands of policyholders will now have their claims for coronavirus-related (COVID-19) Business Interruption losses paid.”

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Topics: Claims, COVID-19

2021: The Time to Try a New Insurance Approach

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It’s evident that the cost of an insurance program rarely goes down. Unfortunately, being in a Hard Market, we’ve seen insurance coverage rates increase across the board. Brokers started observing this trend back in May of 2019, when Excess Insurance prices were spiking regardless of claims activities.

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Topics: Construction Risk Management, Hard Market

2020 State of the Insurance Market Review & Outlook

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As we begin 2021, we reflect on everything that happened this past year - from a global pandemic to civil unrest to natural catastrophes. Through all of that, we find the primary issue that impacts the P&C insurance marketplace in 2021 is uncertainty.

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Topics: Construction Risk Management

Should I Consider a Captive?

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As a business owner, you have a lot to manage. Some things you might do on ‘auto-pilot’ just because you have always done them that way. Does renewing your insurance fall into that category?

Of course, having insurance to cover the myriad of risks is vital to any business. However, utilizing an alternate risk financing option may be able to serve your business better. A Captive may be one of the alternate risk financing options that you should consider.

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Topics: Captive

Who Assigns Your Risk ID?

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Is this the first time your company needs to enroll in a Wrap-Up program? As you fill out the paperwork, you will need to know what your Risk ID number is.

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Topics: Risk ID, Workers' Compensation, Wrap-Ups

Wrap-Ups—A Closer Look at Claims Management

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Wrap-Ups are a great risk management tool for large construction projects. There are many moving parts of a Wrap-Up program, which can seem overwhelming if you do not have the proper structure in place. The key elements of a Wrap-Up that create this structure include Program Design, Financial Risk, Administration, and Claims Management.

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Topics: Claims, CCIP, OCIP, Wrap-Ups

Wrap-Ups—A Closer Look at Program Design

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A Controlled Insurance Program (CIP, also known as a Wrap-Up) is a smart risk management tool for any construction project. However, before the first shovel hits the dirt, you have a big decision to make—who will be the Sponsor for your project?

The Sponsor is responsible for the Wrap-Up’s key elements, like Program Design, Financial Risk, Administration, and Claims Management. With an OCIP, the Owner is the Sponsor for the project. With a CCIP, the General Contractor is the Sponsor for the Project.

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Topics: CCIP, OCIP, Wrap-Ups

Wrap-Ups—A Closer Look at Wrap Administration

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Once you have decided to utilize a Wrap-Up program on your construction project, it’s important to decide who will Sponsor the program. Determining the best Sponsor is crucial, as this sets your project up for success.

The Sponsor is responsible for the Wrap-Up’s key elements, like Program Design, Financial Risk, Administration, and Claims Management. With an OCIP, the Owner is the Sponsor for the project. With a CCIP, the Contractor is the Sponsor for the Project.

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Topics: CCIP, OCIP, Wrap-Ups

California Updates: New COVID-19- Prevention Regulations

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On Thursday 11/20/2020, the Cal/OSHA Standards Board approved emergency regulations for a COVID-19 Prevention Plan that will go into effect on Friday 11/27/2020. This regulation will apply to all Contractors and become effective for 180 days, with possible extensions.

During this 180 day period, the Board may proceed with regular rule-making actions, including a public comment period.

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Topics: COVID-19

Wrap-Ups – A Closer Look at Financial Risk

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You have decided to utilize a Controlled Insurance Program (CIP, also known as a Wrap-Up) for your construction project. That’s great! Now deciding who will be the Sponsor for your project is crucial for its overall success.

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Topics: CCIP, OCIP, Wrap-Ups