Contractor Insurance And Risk Management Blog » Uncategorized

Subcontractor/Independent Contractor vs. Employee

admin — Fri, 23 Apr 2010 14:25:45 +0000

Our builder clients always ask us about the difference between an employee and a subcontractor (AKA independent contractor) for purposes of Workers Compensation and tax withholding. There are a number of rules of thumb on this issue that have been circulating from IRS and Workers Compensation authorities. However, we just found a fantastic article on this topic that we wanted to share that provides more thorough advice on the topic. Read the article by clicking on the source link below.

Source: Independent Contractor or Employee, SC Lawyer Magazine January 2010

Tap Into Federal Stimulus Funds

admin — Fri, 10 Apr 2009 14:32:31 +0000

Remodelers may be interested in learning about how to tap into federal stimulus funds. NAHB website article gives information on how to obtain money to help with weatherization, energy efficient improvements and state energy programs under the American Recovery and Reinvestment Act of 2009.

Source: http://www.nahb.org/news_details.aspx?newsID=8979

Crime Exposure Worries Americans In Bad Economy

admin — Sat, 31 Jan 2009 13:48:56 +0000

Chubb Group of Insurance Companies recently conducted a nationwide survey of 1,000 people and “more than four in 10 Americans are worried that the economic environment can expose their families to crime…”

Here are some of the findings:

41 percent of those who responded to a nationwide survey are anxious about crimes that they and/or their families will be exposed to based on the economy
40 percent are disturbed about domestic contractors’ dependability

As for improvements to the home:

45 percent intend to prolong home improvements such as additions or renovations
25 percent intend to cut back their spending on repairs and maintenance

Source: 2008 Chubb National Home Protection Survey

Green Building Risk Management Obstacles

admin — Thu, 18 Dec 2008 13:36:27 +0000

Theodore L. Senet, a noted Los Angeles construction and insurance attorney, recently listed nine risk management issues dealing with green construction:

1. Compliance with developing green building codes and local requirements

2. Compliance with contract requirements related to certification levels

3. Compliance with contract requirements related to energy savings and operational performance

4. Obtaining tax incentives or meeting tax credit requirements

5. Meeting investment criteria and financing requirements

6. Additional time and costs related to the design, approval and fabrication of new building products and systems

7 The ability of new green products and systems to perform to traditional performance standards

8. The sequencing, constructability and commissioning of new systems, products and processes

9. Compliance with project schedules and the impact on fast track projects

Source: Green Building: New Benefits For Society And New Challenges For Risk Management; Insurance Journal, November 17, 2008; Vol. 86, No. 22; by Kenneth C. Gibbs

What Does the Home Builders Association Do For Its Members?

admin — Fri, 21 Nov 2008 22:01:09 +0000

As an agency that specializes in the insurance and business needs of the Residential Construction industry, I am asked almost daily by my insureds about WHY they should join their local Home Builders Association (HBA) – what are they getting for their money? With the economy in it’s current state, this question has become more and more frequent. All they see at first glance are the membership fee (which can range anywhere from $400 to $600 depending on the local association), monthly meetings and dinners. While the monthly meetings and dinners focus on education and networking there is much, much more going on.

Activities in Congress, the federal agencies, the courts, and state and local governments affect the housing industry and the National Association of Home Builders (NAHB) is actively involved on many fronts to make sure that housing remains a priority in the public policy arena.

Membership in your local HBA automatically makes you a member of the NAHB. The NAHB has a professional staff of more than 300 in Washington, DC. Its various divisions:

Analyze policy issues
Takes the industry’s story to the public through the media and other outlets
Monitors and works toward improving the housing finance system
Analyses and forecasts economic and consumer trends
Educates, trains and disseminates information to members
Represents the industry’s interests on Capital Hill
Stives to ensure that housing remains a national priority when laws are made and policies are established
Works with federal agencies on regulations affecting the housing industry in areas such as mortage finance, codes, energy and the environment
Strives to shape decisions of the courts by becoming involved in litigation on land development, environmental and construction liability matters, such that laws and regulations may be interpreted favorably for the housing industry

Being a member of the HBA shows that you are a professional who is committed to the building industry.

To learn more about the benefits of being a member: http://www.nahb.org/generic.aspx?sectionID=101

To find the HBAs in your area, go the the National Association’s website: http://www.nahb.org/local_association_search_form.aspx

Garage Doors Susceptible To Tornado Winds

admin — Mon, 20 Oct 2008 12:33:50 +0000

The collapse of garage doors during a tornado can set off a chain reaction that destroys the rest of the house according to some experts.

The Department Of Industry and Labor in Minnesota recently upgraded the standard for garage doors by requiring them to withstand a 90 mph wind gust for three seconds.

See complete article:Garage Doors Can Be Weak Point In Tornado Damage