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Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. Unlike general liability insurance — which protects contractors when their...
An insurance policy rarely meets every contractor’s needs out of the box. Fortunately, endorsements offer one way to customize coverage. One of the most common endorsements you’ll likely encounter involves...
Errors and omissions (E&O) insurance covers contractors against financial loss resulting from mistakes, errors, or claims of negligence. While general liability insurance covers against claims related to injury or property...
When working in construction, your insurance policy gets issued as a fairly standard contract. At the core, you have property coverage for your tools and equipment, along with a liability...
Retainage: It’s been a hot button topic in the construction industry for years. Given the slim profit margins on construction projects, retainage practices can be incredibly frustrating for contractors. However,...
Construction businesses need many different types of insurance to mitigate the risks associated with building projects. Two of the most common insurance policies that contractors have are builder’s risk and...
Business owners can learn a lot about their companies by using key performance indicators, or KPIs. These data points provide insight into the profitability of a company and give owners...
To grow a construction business, contractors often pursue larger projects. However, larger projects come with greater risks and additional challenges. Some contractors watch as their gross profit margins decrease when...
In the construction industry, where credit is an integral part of companies’ processes, credit teams have to assess the creditworthiness of their customers individually, and it’s neither a straightforward nor...
Construction insurance can be confusing. Each contractor and party to the project has their own insurance, which may or may not be adequate to protect the work they’re performing. With...
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