An insurance firm or broker will issue a Certificate of Insurance (COI) to a contractor or customer, as proof of insurance coverage. Depending on the project’s nature, the parties involved, and the insurance requirements, a COI’s particular criteria may change. Here are some sample needs for a COI for a major North American specialized contractor:
Understanding Safety Units of Measurement: Key Metrics for Workplace Safety In the realm of workplace safety, several key metrics are used to assess and monitor the safety performance of a company. These units of measurement are critical in identifying risks, ensuring compliance, and fostering a culture of safety. Today, we delve into three primary safety…
Every choice you make counts in the field of project management and construction. One of the most important choices that construction businesses and project managers have to make is how much work should be done internally vs. through outsourcing or subcontracting to other parties. This figure, sometimes referred to as the “Percent of Work Performed…
When it comes to occupational safety, worker welfare is the cornerstone of any successful business. Having a safe and healthy workplace is the consequence of thoughtful planning and preventative actions rather than luck. Let us introduce you to the Safety and Health Management System (SHMS), also known as the Written Safety and Health Program. Employers…
Predicting future sales and projecting growth is like having a crystal ball in the business world. Fortunately, a financial statistic known as backlog can give an indication of a company’s potential revenue in the future. This interesting word refers to the total number of work orders or contracts that a business has been given but…
There are differences between a “umbrella” insurance and a “excess liability” policy, although both may be used to get this type of coverage. We’ll go over the fundamentals of excess limit insurance, its operation, and why it’s revolutionizing risk management in this blog post. Deciphering Excess Limit Insurance: A type of coverage known as excess…
In the construction world, operations frequently depend on mobility. Using cars for deliveries and client meetings is standard procedure. But mobility also entails risk, which is where commercial auto insurance comes into play. This crucial coverage protects a business’s vehicles—whether they are leased, purchased, or otherwise utilized—from potential mishaps and liabilities by extending its protective…