Reducing Insurance Costs though Documentation and Data Management
Operating any business, especially a construction business, requires the company to purchase insurance as a form of protection. The costs of insurance can be substantial to ensure the company is adequately covered and protected. Insurance costs tend to increase depending on the level of risk of the company. Besides shopping for competitive insurance policies, are…
Travelers Teams Up with Procore to Help Contractors Manage Total Cost of Risk
The Travelers Companies, Inc. (NYSE: TRV) today announced an exclusive agreement with Procore, a leading provider of construction management software, to help contractors manage the total cost of risk through improved operations and job-site safety. Procore’s construction platform connects entire project teams, from the office to the field and across companies. This provides key stakeholders –…
Catalyst Expands Product Offerings, Launches Commercial Insurance Division
Charlotte-based Catalyst Surety Partners, LLC (Catalyst), with plans to open a Columbia office in April, recently announced the formal launch of a commercial insurance division. Since the agency’s founding in 2014, Catalyst’s singular aim has been to help contractors succeed. To date Catalyst has worked to live up to that aspiration by providing just one…
2020 Insurance Market Review and Forecast
Change. Transformation. A touch of chaos. Sentinel’s 2020 Insurance Market Forecast reads like a good suspense thriller. And like all great books do, this one ends with the good guys (that’s you, commercial insurance consumer) coming out on top. Provided, of course, that your business’s risk management house is in order. Download Report
McDonald York Named Safety Lightkeeper of the Year
Sentinel Risk Advisors this week announced that McDonald York Building Company, a Raleigh-based construction firm with deep roots and a storied history, is the recipient of the risk management firm’s Lightkeeper Award, an annual recognition of clients that have elevated safety and loss control programs to superior standards. Sentinel’s Chief Operating Officer, Nicole Winkle, said…
Scope of Work Changes Leading Cause of Construction Disputes
Changes to a construction project’s scope of work was identified as the most frequent contributor to disagreements between owners and contractors according to a report by HKA, a leading construction claims and dispute resolution firm. The company recently released: 2019 CRUX Insight, A Global Market Sector Analysis into claims and dispute causation factors. HKA publishes…
One-in-Four Businesses Do Not Use Data Security Software to Defend Against Cyberthreats
Today, in recognition of National Cybersecurity Awareness Month, Paychex, Inc., a leading provider of HR technology solutions for human resources, payroll, benefits, and insurance services, is sharing new insights from a survey of 500 business owners with one to 500 employees about the impact of data security on their organizations. According to the Paychex study, despite the…
With Hurricane Looming, Create a Simple Family Communications Plan Now
It’s a terrible feeling, not being able to get in touch with family and close friends when a natural disaster strikes. Sentinel advises that Carolinians in the path of Hurricane Dorian have some kind of family communications plan to send and receive information in the event of widespread, or prolonged, power and telephone outages. That…
Registration Is Now Open for the 39th IRMI Construction Risk Conference
International Risk Management Institute, Inc. (IRMI), has opened registration for the 39th IRMI Construction Risk Conference (CRC). The Conference will be held November 10–13, 2019, at the Washington State Convention Center in Seattle. Each year, CRC brings together more than 2,000 leading project owners, general contractors, subcontractors, developers, insurers, and insurance agents and brokers for 3…
The Question Is Not If Your Business Needs a Crime Policy, But Why
Crime is one of the most misunderstood commercial risks in the insurance industry today. There’s a tendency, especially among the owners of small-to-midsize businesses, to think of crime as a danger that exists outside the walls of their establishment. Keep the proverbial doors locked tight, and the bad guys can’t get in. But the reality…
