Knowledge Corner

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Risk Management is the practice of identifying and analyzing loss exposures and taking steps to minimize the financial impact of the risk they impose. Your company can face internal risks and external risks.  Examples of internal risk include HR/Labor relations, contractual risk, and succession planning.  External risks include regulation changes, competition, and legislation changes, just to name a few.

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Daylight Saving Time for 2022 is here.

As we experienced the fall back of an hour for Daylight Savings this past Sunday, our sister company, General Contractor Turner Construction, recently shared some valuable safety tips for all construction teams – on and off the job site. We would like to share these safety tips with you.

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Accidents are inevitable, but lessons learned are valuable tools to help prevent similar accidents from happening in the future. Critical analysis post-accident and implementation of proper safety measures can yield positive results. Reduced accidents can yield a lower workers’ compensation modification, reduced insurance costs, and the ability to competitively bid for more jobs.

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In this ever-changing climate, it is critical to be prepared ahead of time for events like liability claims, major accidents, community crises, environmental hazards, and negative media attention.

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As a construction firm, you have probably faced your share of claims. Unfortunately, it’s part of the job. Have you found yourself on hold with a claims adjustor when you should be at a project site? Wouldn’t it be helpful to have guidance through the entire claims process, so you can get back to business? Absolutely! Your Broker should be performing a thorough analysis on both your firm’s internal claims process, as well as the insurance carrier's claims procedures.

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Having a Safety Manual is extremely important for your company and your employees. It guides all on what your company deems to be safe and the processes and procedures to follow if they are in a situation that isn’t. It might seem obvious but any employee not complying with your company’s Safety Manual could be putting your company at risk. Every Safety Manal needs to include:

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Minimizing your construction job site's risk is the key to having a successful project. To achieve this, having a good Safety and Loss Control Program in place will help. Since each construction company has its own unique set of risks, figuring out where to begin when creating a Safety Program can be daunting. To help, here are 10 safety best practices we have found that work:

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It’s simply not enough to assume your employees are working safely on a job site. Accidents will happen, but there are ways your company can help minimize the risk. Whether you have a current Safety Program in place and need to refresh it or want to implement a Safety Program altogether — here are 3 ways you can improve your job site safety:

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