Image credit: g/Suleiko/Shutterstock
There are dozens of carriers offering a form of environmental or pollution coverage and the most common include Pollution Legal Liability (PLL) and Contractor’s Pollution Liability (CPL).
Image credit: g/Suleiko/Shutterstock
There are dozens of carriers offering a form of environmental or pollution coverage and the most common include Pollution Legal Liability (PLL) and Contractor’s Pollution Liability (CPL).
Topics: Pollution Legal Liability Insurance, Construction Insurance, Contractors’ Pollution Liability
Image credit: g/CoolKengzz/Shutterstock
Whether you are a General Contractor, Subcontractor, or Property Owner, your business risk is covered by a variety of insurance coverages – Workers’ Compensation, Auto Liability, and General Liability to name a few. Is Builder’s Risk coverage part of your insurance portfolio?
Topics: Builder's Risk, Construction Insurance
Image credit: Milaspage/Shutterstock
Deciding the type of insurance plan can be frustrating. Ultimately you want the best coverage, for the most cost-effective price. There are different insurance types or risk financing options you can choose based on your company. One popular option is a Deductible plan.
Topics: Construction Insurance, Risk Financing
Image credit: KomootP/Shutterstock
Insurance is usually one of the last things companies want to talk about. It’s not fun or exciting, it’s simply a means to transferring risk. The necessity of insurance doesn’t make it any easier when figuring out the best risk financing option for your company. Depending on your trade and the type of risk you are wanting to transfer, will determine the best insurance option for you.
Topics: Contractual Risk Transfer, Construction Insurance, Risk Financing
Image credit: janpietruszka/Shutterstock
As a Contractor, you wear a lot of hats – salesperson, customer service, quality control, etc. You understand you cannot be satisfied with the status quo if your business is going to thrive. You must be constantly looking for new jobs, sourcing quality materials, and providing excellent work for clients every day. One hat you need help with is your insurance program. If your Broker is a true business partner, he/she gladly wears that hat.
Topics: Contracts, Construction Insurance
Image credit: Hanna+Kuprevich/Shutterstock
Whether your insurance renewal is this month or next year, it’s important to work with your Broker and submit a complete market submission. TSIB has 8 tips for submitting a complete submission to the Carrier. However, today we are going to focus on one: Clear List of Exposures.
Topics: Construction Insurance
Image credit: Portrait Image Asia/Shutterstock
With Carriers having a low underwriting capacity, right now it’s important to provide a “Best in Class” market submission at your upcoming insurance renewal. It will enable you to obtain the coverages you need, as well as help keep your premiums low. Your submission is your chance to demonstrate why your company is a “good” risk to the underwriters.
Topics: Construction Insurance
Image credit: janifest/shutterstock.com
If you happen to be a contractor who does work in New York (NY), Labor Law is a major factor in your insurance costs. The law puts absolute liability on the contractor, and it is almost impossible to defend. As a result, we're seeing more Carriers pull out of the NY marketplace, and less available underwriting capacity than ever before. Underwriting capacity means that if last year a Carrier was able to write $1,000,000 in new business premium, this year, they may be only allowed to write $700,000 in coverage.
Image credit: siribao1/shutterstock.com
As Wrap-Up Programs continue to become more popular, chances are, you have already found yourself enrolled in one. Make sure you have spoken to your Broker and removed the General Liability Wrap-Up Exclusion via endorsement on a blanket or project-specific basis.
Topics: Claims, Wrap-Up Insurance, Construction Insurance
Join our dynamic team! At TSIB, we are Committed to our Clients and to our workforce.
(201) 267-7500
(203) 945-1780
(201) 267-7500
(213) 369-4496
Locations / Terms of Use / Privacy Policy / COVID-19 Response
The material on the website is for informational purposes only. It should not be construed as legal advice and is recommended you contact your attorney for legal advice.
Copyright © 2023 by Turner Surety & Insurance Brokerage, Inc.