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Contractors Insurance Requirements Delay Gulf Oil Clean Up Efforts

admin — Sun, 29 Apr 2012 04:06:39 +0000

The Problem

There are tons of out of work contractors that are able, ready and willing to assist in the Gulf Coast Cleanup efforts. So what is stopping these contractors from getting out there and doing the work? Apparently, the rigid contractors insurance requirements that are being requested are the problem for most contractors. Contractors must purchase third party liability also knows as general liability that covers them for this type of work. They must also purchase and maintain a pollution liability insurance policy. Contractors are also federally mandated to purchase and maintain workers compensation insurance coverage for employees that are working on, near or around waterways. These ridged contractors insurance requirements slow down the process of getting contractors started on the cleanup efforts.

Not only is it difficult for a lot of the contractors to locate business insurance brokers that know how to handle this type of account, once a contractor has located a good business insurance broker that he feels comfortable with that broker has to be paid. For contractors with several employees and a reasonable amount of annual gross sales these polices can get quite expensive due to the nature of the operation being preformed. Don’t forget oil cleanup is not exactly the same as residential remodeling work or home building projects. There is a lot more risk from the insurance company’s point of view: The higher the risk, the higher the rate. Many small to mid size contractors are having difficulties paying the initial down payment to get the coverage bound.

There is no dispute that the more quickly the oil spill is cleaned the more quickly the Gulf Coast economy will recover and less likely our beautiful wetlands and beaches will be soiled. Also, don’t forget that every day that is being wasted means more ocean and marine life will get destroyed and the environmental impact is allowed to continue to grow

The Solution

Contractors need to find a commercial insurance broker that specializes in hard to place risks and contractors insurance at the same time. A broker that deals with contractors insurance on a daily basis should have markets available that have pollution liability insurance, general liability insurance and workers compensation insurance that satisfy the federal governments’ rigid requirements.

In Conclusion

Commercial Insurance Job Opportunity – Seeking Commercial Lines Producers

admin — Fri, 16 Dec 2011 06:36:00 +0000

A Southern California commerical insurance agency is currently hiring insurance producers to work from home. If you have a book of business of $750,000 in premium or more Lemore Insurance Services can provide you with direct access to all the addmitted carreirs and a service center staffed with experienced, friendly customer service reps and account managers to help service your policies and maintain a high level of customer satisfaction to insure client retention. Smaller books of business will be considered as long as the producer is committed to growth.

Lemore Insurance Services also offers year end bonuses and incentive programs to motivate its producers to close more deals.

Lemore Insurance Services offers general liability Insurance , workers compensation insurance , business auto Insurance , course of construction Insurance and much more.

While Lemore Insurance specializes in contractors Insurance, truckers insurance , and insurance for commercial buildings we have products for any business in any industry.

Please call Lemore Insurance Services for more details at 818-348-6106 for more information.

Insurance Brokers or Agents Working From Home

admin — Sat, 12 Nov 2011 01:23:26 +0000

Are you an insurance producer with an existing book of business? Are you tired of commuting into the office every day? Would you like to work from home and have the same access to carriers and service staff that agents have at large brokerage houses? Call Lemore Insurance Services to discuss the opportunity that we have for you.

Travelers Institute Partners with Small Business California to Advocate for Small Businesses and Identify Solutions to Complex Challenges

admin — Mon, 07 Nov 2011 02:36:40 +0000

SAN FRANCISCO, Oct 20, 2011 (BUSINESS WIRE) — The Travelers Institute, the public policy division of The Travelers Companies, Inc. TRV +3.89% , today announced the results of its California small business survey, in which more than two out of three Bay Area entrepreneurs, policy makers and community leaders surveyed feel that small business is more heavily impacted by government regulation than their larger counterparts. The results were revealed at the Travelers Institute’s “Small Business, Big Opportunity” symposium, which convened San Francisco small business leaders at the historic Merchants Exchange Building, an emblem of the city’s economic significance, to identify solutions to business challenges.

At the event, panelists discussed detailed survey findings in which employee benefit matters (61 percent) and cash flow (60 percent) were cited as the top challenges facing small businesses in California. Participants also discussed the Travelers Institute’s white paper, which advocates for greater awareness of small business issues through legislative action to reduce regulatory burdens and offers tips for business continuity and risk management planning.

“Travelers is committed to helping small businesses succeed and influencing public policy leaders to improve the business environment,” said Joan Woodward, Travelers Executive Vice President of Public Policy, who also heads the Travelers Institute. “Small businesses are the backbone of our economy, and we understand it is essential to have state and federal policies that encourage entrepreneurship and fuel job creation in San Francisco and across the country.”

In addition to Woodward, who moderated the panel, program participants included several high-profile San Francisco small business leaders including:

– Christine Baker, Acting Director, California Department of Industrial Relations

– Elizabeth Echols, Regional Administrator, U.S. Small Business Administration

– Regina Dick Endrizzi, Director, San Francisco Office of Small Business

– Scott Hauge, President, Small Business California

– Al Nelson, Regional Vice President, Small Commercial — California Region, Travelers

“Businesses, especially small ones, need encouragement to expand and create jobs, ultimately stimulating the local economy. This requires appropriate access to both resources and capital, and limiting burdensome regulations that stifle growth,” said Scott Hauge, an insurance executive who also runs the entrepreneurial advocacy group Small Business California, which co-hosted the event. “Through its series of small business symposia, the Travelers Institute highlights many of the very obstacles facing entrepreneurs in San Francisco, and we are proud to partner with them to address and solve these challenges.”

At the symposium, panelists discussed the issues of disaster preparedness and business continuity planning as critical to business success. The American Red Cross has data that shows as many as 40 percent of small businesses do not reopen after a disaster, and according to a national Travelers Institute survey conducted in March, more than half of all small business owners surveyed do not have a business continuity plan.*

“As one of the largest insurers of small businesses in the country, we strongly advocate for business continuity planning and risk management,” said Al Nelson, Travelers Regional Vice President of Small Commercial. “We’ve seen firsthand what can happen when entrepreneurs aren’t prepared for disaster.” Nelson added that many business owners consider business continuity planning a competitive advantage, recognizing that an entrepreneur’s reputation and livelihood are at stake if they can’t meet the needs of their customers.

The key findings of the Travelers Institute California survey discussed at the symposium include:

– 71 percent of respondents feel the national, state and local economies are in poor condition. The majority feel it will be the same or worse next year. There is more pessimism among small business owners in California regarding the economy compared to the national sentiment overall, based on a similar national survey conducted by the Travelers Institute.

– Employee benefit matters (61 percent) and cash flow (60 percent) are cited as the top business challenges facing small businesses in California.

– 51 percent cite state/local regulation and 35 percent cite federal regulation as business challenges.

– 50 percent say employment regulations are the most difficult to comply with, followed by health insurance mandates (47 percent).

– The majority (65 percent) feel that small business is more heavily impacted by government regulation than big business.

– More than 4-in-10 feel that government regulation negatively impacts the ability of small businesses to hire new employees and grow business.

Methodology: The survey polled 129 Travelers Institute symposium attendees in conjunction with Small Business California members. The poll was conducted online from 9/20/2011 — 10/7/2011 and respondents included a mix of business owners and principals from small sized firms, as well as policy makers and community leaders in the San Francisco area.

The Travelers Institute has additional forums planned in select markets throughout the remainder of the year to bring stakeholders together to discuss ways to create better operating climates for small businesses. For more information, visit www.travelersinstitute.com .

About the Travelers Institute The Travelers Institute, the public policy division of The Travelers Companies, Inc., engages in discussion and analysis of public policy topics of importance to the insurance marketplace and the financial services industry. The Travelers Institute draws upon the industry expertise of Travelers’ senior management and the technical expertise of many of Travelers’ underwriters, risk managers and other experts to provide information and analysis to public policy makers and regulators. Travelers is a leading provider of property casualty insurance for auto, home and business. For more information, visit www.travelers.com .

About Small Business California Small Business California is a proactive, non-partisan business advocate whose only agenda is the well-being of California’s 3.2 million small businesses. Working for all small businesses for a better business environment, SB-Cal is responsive to the needs of small business owners.

* Based on data collected through a national Travelers Institute survey of small business leaders conducted in early 2011.

SOURCE: The Travelers Companies, Inc.

Need assistance with contractors insurance or business insurance ? Get a Tavelers quote today. Call us at 818-348-6106

Are Your Subcontractors Insured Under Your General Liability Insurance Policy?

admin — Mon, 07 Nov 2011 02:12:05 +0000

Most businesses and consumers assume that subcontractors that are hired on behalf of a business are covered under that business’s general liability and workers compensation policies. This is most often not the case.

Most general liability policies contain a subcontractor exclusion. The subcontractor exclusion clause excludes coverage that is caused by a subcontractor. In such cases the business that is hiring the subcontractor must protect itself from damages that can be caused by the subcontractor that was hired to do the work. The best way for a business to protect itself from damages caused by a subcontractor is to make sure that the subcontractor has adequet coverage. There are two steps that must be taken. First, the company must request to become an additional insured on the subcontractors general liability policy. The second step is to request a copy of the subcontractors policy to make sure that the terms, conditions and exclusions of the subcontractors policy are acceptable to the business that is subbing the work out. After all, what good is it to be an additional insured on a policy that carries every exclusion under the sun? The terms, conditions and exclusions of a policy are not disclosed on the additional insured certificate and the business that subbed the work out will not know this information untill there is an uncoved claim. By this time, its too late.

Don’t let this happen to you. Check your policy to make sure you and your customers are properly protected against damage or injury.

Need assistance with contractors insurance or business insurance ? Call us at 818-348-6106

Don’t Hire An Unlicensed And Uninsured Contractor

admin — Mon, 07 Nov 2011 00:17:09 +0000

SACRAMENTO —The Contractors State License Board (CSLB) wants consumers in smaller communities and rural areas of the state to know that they’re especially vulnerable to becoming victimized by unlicensed contractors. Last week CSLB’s Statewide Investigative Fraud Team (SWIFT) investigators teamed with the Kern County Sheriffs and District Attorney Offices, and the Department of Homeland Security’s Immigration and Customs Enforcement to conduct a sting in the city of Ridgecrest.
The operation, conducted on February 3, 2011, led to the arrest of eight suspected unlicensed operators. CSLB investigators posed as homeowners and invited suspected phony contractors to a newly constructed home near Pearson Park. Investigators asked for bids that included landscaping, fencing, and painting. If the bid totaled more than $500 in labor and materials and the suspect was not state-licensed, they were arrested. Eight were given a Notice to Appear (NTA) in court to face misdemeanor charges of contracting without a license; some also face charges of illegal advertising, and soliciting an excessive down payment, also misdemeanors. All eight will face a charge of failing to secure workers’ compensation insurance for employees. They are scheduled to appear in Kern County Superior Court in Ridgecrest on March 29, 2011.
“This sting is a perfect example of why homeowners need to make sure the contractor they hire is properly licensed and insured. It only takes a minute to check information on the CSLB website at www.cslb.ca.gov or www.CheckTheLicenseFirst.com,” said CSLB Registrar Steve Sands. “If someone working on your property is injured and is not covered by workers’ compensation insurance, they could turn around and sue you for their medical bills.”
By law, anyone performing home improvement services that total more than $500 in material and labor must be licensed by the state of California. Contractors must include their CSLB license number in all advertisements and contracts. Those who are not licensed can only perform jobs valued at $500 or less. Their ad must state that they are not licensed.
CSLB received critical support for this operation from one of its legitimate licensed contractors. Four of the eight arrested during last week’s sting operation were the result of leads from that licensee.
Licensees face the difficult task of competing against those who break the law by operating in the multi-billion dollar underground economy. In addition, the loss of tax revenue takes money away from schools and law enforcement.
“Homeowners should also know that they have little recourse against an unlicensed operator if something goes wrong with a project,” added Sands. “That’s especially true if you give them a big down payment and they never show up to start the job.” CSLB offers a variety of free services, including mediation and arbitration, for consumers who have a problem with their licensed contractor.
CSLB urges all California consumers to follow these tips before hiring a home improvement contractor:
• Be especially hesitant when approached by someone offering home improvement services door-to-door.
• Verify the contractor’s license online at www.cslb.ca.gov or www.CheckTheLicenseFirst.com, or via CSLB’s automated phone system at 1-800-321-CSLB (2752).
• Ask to see a photo identification to verify the contractor’s identity.
• Don’t pay more than 10% down or $1,000, whichever is less. There is an exception to this rule for about two dozen contractors who purchase special bonds and are noted on CSLB’s website.
• Don’t pay in cash, and don’t let the payments get ahead of the work.
• Get at least three bids and insist on a written contract before your project begins.
The Contractors State License Board operates under the umbrella of the California Department of Consumer Affairs. More information and publications about hiring contractors are available on the CSLB website or by calling 800-321-CSLB (2752).

Contractors, need assistance with contractors insurance or business insurance for any industry? Call us at 818-348-6106

New Contractors Insurance Product Now Available

admin — Mon, 04 Oct 2010 19:52:54 +0000

First Mercury Insurance Company

Rating: A- (Excellent) Financial Size Category: IX

General contractors, new construction to remodel and repair work, commercial to residential, large complex risks to small sole proprietors, practice policies to project-specific policies, Eligible Operations Include: • Trade contractors—most all including, but not limited to, roofing, framing, siding, drywall, electrical, plumbing/HVAC, concrete, carpentry, paving, EIFS • Commercial trade contractors—roofing, steel erectors, elevator contractors, painting, street and road, build out contractors, concrete, EIFS and others • Servicing—janitorial, elevator, boiler • Commercial general contractors – Project specific up to 36-month term – 10 years extended completed operations – No venue restrictions Coverage Highlights: • Primary 1/2/2 and $10M umbrella • Primary non-contributory • Blanket AI available • Blanket waiver of subrogation • Per-project aggregates • SIR or deductibles—flexible attachments • No minimum premiums • OCPs, owner’s interests • Can entertain NYC risks • EIFS

Need assistance with contractors insurance or business insurance for any industry? Call us at 818-348-6106

How To Get A General Liability Insurance Quote

admin — Mon, 30 Aug 2010 23:58:29 +0000

Finding a business insurance agency

There are several ways to go about getting business insurance for a construction company. The internet is becoming ever more popular for consumers of all types. The construction industry is no different from the rest of the marketplace: It too has turned to the internet when shopping for anything from material, equipment, a labor force to business insurance. The first thing a contractor needs to do is locate a business insurance broker via an online search. Contact a broker who specializes in contractors insurance. Complete the online contact form and wait for a call back. In fact, I suggest you do this with several sites that all specialize in construction insurance or business insurance in general. I found that if you contact several business insurance agencies you may only get a call back from one or two agents. This is the starting point because you don’t want to work with a broker who received a lead and was too lazy to bother to call back or at the very least send an email back.

Once the initial contact is made the client needs to speak to the representative and asses if he or she feels comfortable working with that particular person. A consumer should check with the BBB and the Department of Insurance to make sure that there are no complaints against the insurance agency. A consumer should also consider who they are talking to when they contact the insurance agency. Do they get a receptionist transferring to a voicemail each time or do they speak to a licensed agent each time. How accessible is the person that you will be working with on a regular basis. Customers don’t like leaving voicemails especially when they don’t get responded to. These are all things a consumer must take into consideration when choosing a business insurance agency.

Some advice for consumers

Once the consumer has chosen the business insurance agency he or she should discuss all of the business insurance needs that they have as a package. You as a consumer may not know about some great package that the broker might have available so give the agent as much information as possible so he or she can offer you the products and services that best suit your needs. Any agent that request that you complete long forms and application is not providing good service. If you have to complete the applications what are they doing? This is a service that most insurance agents offer as a part of the marketing process. I always cringe when I see a lengthy online application. If I can avoid it, I do. A good broker will take your basic information, complete all the required applications and submit it to various insurance companies that have an appetite for your type of business.

Last but not least don’t spread it too thin.

Once you start the shopping process don’t go to multiple brokers. If you go to multiple brokers you will likely cause delays in getting a quote. What consumers don’t know is that once a broker gets a quote on your behalf that market is blocked for any other broker. So in essence once a quote is issued any other brokers approaching that market will be turned away or asked to provide a broker of record letter from the applicant releasing the same quote for a second time. If you are shopping with two brokers you should know where each one plans on submitting to so that work is not duplicated. The brokers will appreciate your honesty, the agents job will be easier if they have all the facts and he or she is likely to be able to get you a better price on your business insurance if they know all the facts and what they are competing against.

Need assistance with contractors insurance or business insurance for any kind of industry? Call us at 818-348-6106

Contractors Insurance Requirements Delay Gulf Oil Clean Up Efforts

admin — Mon, 30 Aug 2010 23:47:09 +0000

The Problem

The Solution

In Conclusion

Need assistance with contractors insurance or business insurance for any industry? Call us at 818-348-6106

California and Nevada Contractors Make Employees Become Independant Contractors In An Attemp Get Cheap Contractors Insurance Costs

admin — Mon, 30 Aug 2010 22:35:14 +0000

Contractors are trying to save money on their contractors insurance by making their employees independent contractors. Contractors cannot afford their general liability insurance and workers compensation insurance in this economic environment when they are finding it difficult to stay in business all together. The bottom line is that both general liability insurance and workers compensation insurance become more expensive as the contractor has more employees and the annual salaries increase. It is much more cost effective for the contractor to make his employees go out and get licensed by the Contractors State License Board themselves. Once the employee obtains a contractors license he can now be considered an independent contractor.

Lower insurance premiums for general liability insurance

Now that the employee is considered an independent contractor the general contactor’s general liability policy no longer covers the work of the independent contractor. However, this means that the general contractor no longer has to claim the newly independent contractors annual pay as salaries. This brings the cost of the general liability insurance down substantially. This money can now be listed as subcontracting costs in stead of salaries which is cheaper from a premium stand point.

Lower insurance premiums for workers compensation insurance

The other benefit to the general contractor who changes his employees to independent contractors is that the contractor no longer has to pay for workers compensation insurance for that particular person. The independent contractor is now listed as exempt from workers compensation unless he hires employees. But as long as the independent contactor has no employees or helpers no workers compensation insurance is needed. The general contractor no longer has to pay workers compensation insurance premium on this individual nor does he have any liability over an injury that occurs on the job.

Great for the general contractor – not so great for the independent contractor

This situation is terrific for the general contractor. First, the general contractor no longer has to cover the employees work or the employee against work injuries. The second benefit is that the general contractor also avoids having to pay parole taxes to the state and federal government. However, for the new independent contractor this means a lot of changes that are not exactly beneficial to him. First, he will now have to purchase general liability insurance of his own. The independent contractor no longer has coverage if he is injured on the job. From a tax stand point the independent contractor will not have a check back from employee taxes that were withheld from his paycheck all year long. In fact, most of the time the independent contactor will have to pay tax on the his profits. The bottom line is that changing an employee to an independent contractor is beneficial to the employer and not to the employee.

Need assistance with contractors insurance Califronia, or contractors insurance Nevada?