ABC Wisconsin Contractor Blog

Subscribe to the Wisconsin Contractor Blog

Get the latest updates in your email box automatically.

ABC of Wisconsin Blog Archives
Search ABC of Wisconsin Blogs

Wisconsin-Contractor-Blog-NEW

From the category archives: Insurance

Insurance

Indemnification – Big word, big risk

8/29/2018 9:20 AM
Almost all businesses enter into numerous contractual agreements each year. These agreements are often given the same cursory review as an iTunes Agreement. Failure to closely scrutinize the details of these agreements can adversely impact the business’s total cost of risk in the event of a problem. The provision within the contract that impacts the business’ cost of risk more so than any other, especially in construction, is the Indemnification Agreement. 

Contractual risk transfer is a critical component of effective risk management, but whether one is transferring the risk or assuming it, the exposure needs to be understood as not all indemnification clauses are covered under your insurance contract.  Read the rest of entry »

Making music in construction contract management

7/6/2018 11:19 AM
A few weeks back, my daughter treated me to tickets for an Anderson East concert at the Majestic Theatre in Madison (By the way, he puts on a great show.) During the second set, he covered one of my favorite old tunes by Sam & Dave, “Hold On, I’m Coming.” He then immediately transitioned into his hit “All On My Mind.” OK, you’re thinking, "What in the world does this have to do with construction contract management?" Well, it has to do with the transition of time and the evolution of risk transfer. Read the rest of entry »

Falls are still major safety issue in construction

4/23/2018 3:16 PM
After adding more than 30,000 jobs in January alone, the construction industry shows no signs of slowing down. With more workers comes more responsibility for safety. Falls from heights are still the leading cause of death in the private construction industry and lack of proper fall protection is the most frequently cited violation by OSHA ... Read the rest of entry »

Worker's Compensation - It's all the same!

3/7/2018 8:09 AM
As agents that specialize in Worker's Comp and risk management, our biggest wish would be to get $1 for every time we heard a prospect say, "Worker's Comp, it's all the same, right?" In their defense, it's what they have been told by almost everyone in our profession. So, why would they think any different? Let us say it clearly, "Worker's Comp is NOT all the same!"  Read the rest of entry »

The five most dangerous jobs in construction

12/14/2017 9:18 AM
As one can imagine, the construction industry has some of the riskiest jobs in America. Construction workers face a wide range of hazards at work everyday from falling debris to machinery mishaps and everything in between. Below, is a countdown of the top five most dangerous construction practices.
Read the rest of entry »

Safety cliché or safety culture?

12/7/2017 2:30 PM
Lift pictureI’m sure you’ve heard or used the clichés, “safety is no accident” or “safety first.” There are hundreds of safety adages like it. While they may be used with well intentions, Psychologist and Trainer, Rob Long, PhD., says the use of safety language like this is meaningless. It dumbs down our safety culture and distracts us from taking safety seriously ... 
Read the rest of entry »

Are you prepared for a Cyber 9/11?

7/28/2017 7:36 AM
This week, Lloyd’s of London released a report that stated “a major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as Superstorm Sandy in 2012.” So far in 2017, the "WannaCry" and "Petya/NotPetya" attacks affected hundreds of thousands ...
Read the rest of entry »

The construction industry's need for electronic data liability coverage

7/25/2017 4:23 PM
Most construction related businesses understand the need for General Liability or Worker’s Compensation insurance and have a basic working knowledge those coverages. However, many business owners may not look closely at some of the exclusions or special nuances of those insurance policies ...
Read the rest of entry »

Associated Builders and Contractors of Wisconsin
5330 Wall Street, Madison, WI 53718

Phone: 800-236-2224 or 608-244-5883
Fax: 608-244-2401
email: info@abcwi.org