15 Construction Insurance Considerations to Help Manage Contractor Risk

construction insurance

Contractors should expect much more from their insurance brokers than to simply negotiate pricing and terms and conditions for their construction insurance programs. Safety, claims management, contractual risk transfer support, bid and accrual support, loss sensitive adjustment forecasting, construction defect allegation strategies and more are all important elements of a successful risk management program. Unfortunately, brokers […]

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6 Critical Insurance Provisions in Commercial Leases

insurance provisions in commercial leases

Make sure to allow your insurance professional to review the insurance provisions in commercial leases prior to signing the documents. Why? Because the insurance-related risks are not always obvious and might result in a costly uninsured surprise. Commercial lease agreements can be complex and time consuming to negotiate. Business owners often fail to consult with their P&C […]

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Gerry Sorge, Claims Advocate

Gerry’s claims advocacy role creates a united effort so all claims are treated as important and sensitive. His efforts maximize coverage where appropriate and minimize liability and workers compensation loss experience. He decreases the cost of risk and lower premiums for KMRD clients over the long term. Gerry has been working with clients in resolving […]

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Employers Should Inform Employees of Election to Reject Underinsured Motorist Coverage

Case Involving Underinsured Motorist Coverage Each state regulates the coverage form and requirements. For example, Pennsylvania requires all drivers purchase a $15K per person / $30K per accident bodily injury limit. Most commercial clients purchase a $1M limit. However some elect to purchase only the minimum limit required by State law because: Their drivers are not permitted […]

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Why Our Claims Advocacy Process Is the Best – KMRD

advocacy process

When you file an insurance claim it usually means an unplanned event has occurred, and unplanned events are almost never good news. That’s why it’s so important to be able to trust the claims advocacy process and have it work for you – not against you. Best case scenario is your claims are filed professionally and timely, and honored in […]

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Reduce Workplace Injuries With An Effective Risk Control Plan

Effective Risk Control Plan

Taking risks with employee safety and health can lead to workplace injuries and losses to your business’s bottom line. Developing an effective risk control plan will help you identify and eliminate hazards and control risks. Injuries related to lifting, carrying and lowering materials ranked as the leading cause of workplace injury between 2010 and 2014, representing 32 […]

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Substance abuse affects 70% of US businesses

Substance abuse affects 70% of US businesses, according to a recent study fielded by the US Department of Health and Human Services. Substance abusers represent approximately 17% of the average workforce. Substance abusers typically cost a company about $7,000 per user, per year. Substance abusers cause 35% of all industrial injuries and fatalities. According to […]

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Better Loss Run Reporting Supports an Improved Total Cost of Risk

Just as a balance sheet will help you understand the financial strength and capabilities of your company, a good loss run report can guide your risk management program in developing risk management plans, tracking the results of risk management efforts, identifying problem areas and projecting costs. A basic loss run report offers only minimal information […]

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Updated OSHA Recordkeeping Rule One Year Later

Workplace Safety Signs

At the beginning of 2015, the U.S. Department of Labor’s Occupational Safety and Health Administration issued an updated Reporting and Recordkeeping Rule to tighten its fatality, injury and illness reporting requirements. The updated rule retained the requirement to report all fatalities within 8 hours and added the requirement to report all inpatient hospitalizations, amputations and […]

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Structuring Non-Standard Insurance Programs

For large companies, it is almost always less expensive to self-insure the usual and predictable level of claims. The level to which you self-insure, whether on a per-claim or aggregate basis, is a decision that requires a cost / risk benefit analysis.  A non-standard insurance program blends traditional insurance with self-insurance. KMRD’s team of experts […]

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