Contractors

A substantial portion of United Financial Solutions’ clients are contractors working in the construction industry. We have in-depth knowledge of the risks they encounter on a daily basis and, in addition to core business insurance and risk management services, we urge you to consider these issues and coverages as well:

 

Design-Build/Professional Liability
If you are controlling all phases of designing and building projects, do you understand, and are you covered for, the additional liabilities you are incurring?

 

Contractual Agreements
Do you have an insurance expert and/or attorney review contracts to identify non-standard requirements such as hold harmless/indemnity clauses, owners and contractors protective liability, increased policy limits and waiver of subrogation agreements? If handled improperly, these requirements can result in unexpected self-insured losses, additional insurance costs not factored into your bid, delayed starts or a hold-up on final payment.

 

Worksite Protection
Do you have adequate coverage through Builders Risk Insurance or Installation Floaters to protect your work-in-progress and materials on a job site, in the event they are damaged by forces out of your control?

 

Equipment
Do you have enough coverage on your owned or leased mobile equipment and are your tools adequately covered? Do you have the proper loss control programs in place to prevent theft of tools, equipment and materials on a daily basis?

 

Pollution
Do you work with, encounter, or transport any type of hazardous materials and, if so, do you have coverage for that liability or for the cost of a cleanup? These situations are generally not covered in your General Liability policy.

 

Surety Services
Do you have a working relationship with a surety agent who can assist you in obtaining the various bonds you need, and at the same time give you expert advice on financial and other issues that impact your long-term “bond-ability”?

 

Succession Planning
Do you have a formal business succession plan that will help assure your business progresses to the next generation?

Every business is unique. We look forward to working with you to identify and manage the risks that can impact the future of your company.