Survival Guide Archive

Patrick O'Toole, AU

As a company Home Office Claims Specialist, then a Commercial Underwriter, I have handled every aspect of insuring commercial risk, and made a particular study of risk management needs for construction firms. Some of you may be familiar with the Survival Guide I write for our existing and prospective customers in the construction industry.

Construction Insurance is a different breed - underwriters offering coverage often have special requirements, and complying with them can be the difference between an affordable, broad program of protection, and being relegated to surplus lines insurers, with narrow terms, high rates, and sometimes even financial instability. I was one of those underwriters, and I understand what they are looking for. I can boil it down to two broad concepts - a Culture of Safety, and a solid system for Contractual Risk Transfer. Both are the subject of my Survival Guide series, which you can access here:

Whether you ultimately become a customer of Smithwick & Mariners, or simply use these tips to improve your operation (and keep your current agent on his or her toes) I offer them with my compliments. Depending on your location and schedule, I can also offer a free Jobsite Safety and Coverage Review. With your help, we can build a safer Maine.

Contractor's Insurance

	The Hold/Harmless Indemnification Clause
	Insurance for contractors is getting harder to place, and the restrictions that go along with offering coverage are getting tighter at the same time.
	Equipment Value Adjustments
	What do contractors themselves percieve? That insurance costs them more, and the companies are offering them less.
	Wokers Compensation for Independant Contractors
	With insurance for contractors difficult to place, and the restrictions that go along with offering coverage getting tighter, are builders simply at the mercy of the insurance industry?