3 Common Loss-Sensitive Plans for Trade Contractors

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Every Trade Contractor that purchases insurance will be evaluated on their company size, operation complexity, and risk tolerance. There are a variety of risk financing options available to your company. If you have a solid safety & loss control plan and good loss history, you may want to look at a loss sensitive plan, also known as as a “performance-based program.” Here are three common types of loss-sensitive plans your company should know about:

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Topics: Risk Management, Trade Contractors

Why is Off-site Coverage Required on a Wrap-Up?

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Trade Contractors who are enrolled on a Wrap-Up Project, or CIP, are covered for their work on-site by the insurance contained within the program. However, before they can start work, they must provide proof of their corporate insurance coverage, typically for off-site exposures.

Proof of insurance coverage is especially important for Trade Contractors who are excluded from the program. They must show evidence of insurance for both on and off-site coverage.

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Topics: Wrap-Up, Off-site Coverage, Trade Contractors

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