Contractor Insurance And Risk Management Blog » Risk Management http://www.contractor-insure.com/blog Where Home Builders And Trade Contractors Turn For Advice! Wed, 28 Dec 2011 13:23:39 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Contractor-insure.com Blog Ranked In Top 50 http://www.contractor-insure.com/blog/index.php/2011/06/contractor-insure-com-blog-ranked-in-top-50/ http://www.contractor-insure.com/blog/index.php/2011/06/contractor-insure-com-blog-ranked-in-top-50/#comments Mon, 27 Jun 2011 12:19:58 +0000 admin http://www.contractor-insure.com/blog/?p=524 We are proud that our contractor-insure.com blog on contractor insurance and risk management has been ranked in the top 50 best risk management blogs by an independent resource, PMP Certification Training.

Here is the list of the top 50: http://www.pmpcertificationtraining.org/risk-management

]]> http://www.contractor-insure.com/blog/index.php/2011/06/contractor-insure-com-blog-ranked-in-top-50/feed/ 0 Decreasing Workers compensation Premiums: Increasing Loss Ratios http://www.contractor-insure.com/blog/index.php/2009/12/decreasing-workers-compensation-premiums-increasing-loss-ratios/ http://www.contractor-insure.com/blog/index.php/2009/12/decreasing-workers-compensation-premiums-increasing-loss-ratios/#comments Tue, 15 Dec 2009 15:32:33 +0000 admin http://www.contractor-insure.com/blog/?p=349 One factor that insurance companies use to underwrite your contractors Workers Compensation insurance policy is loss ratio.  Simply put, your loss ratio is the dollar amount of losses divided by premium.  A contractor with a loss of $10,000 who paid $20,000 in premiums would have a loss ratio of 50%.  Within the last few years, we have seen a drastic drop in contractor’s payrolls.  Given that trend, the same contractor with a loss of $10,000 might only be paying a premium of  $10,000.  His loss ratio would now be 100% and the risk would be much less attractive to underwriters.

 Current losses can cost you much more if you have less payroll than in past years.  One recommendation is - don’t cut back on your safety program!  Investing your time & money in a safety program will protect you and your business in the long run.  Make sure your safety program is current & up to date.

 Source:  SCHB Self – Insurers Fund (Andrew Woodham, Marketing Manager)

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