The construction industry is associated with a high level of risk due to its often large manpower requirements, dangerous worksite conditions and major financial investment. Injury or death through an act of negligence or an unfortunate accident could potentially create a devastating financial loss.
Construction is especially vulnerable to risks associated with subcontractor default and claims, job-site safety, surety credit and contingent capital, and potential liabilities related to in-house design services. But you can be prepared with a comprehensive construction insurance policy that covers all the expenses potentially incurred from property damage or personal injury.
The First Baldwin Insurance team of risk management professionals can help you mitigate and manage common construction industry risks such as these. We’ll help you assess your level of risk and recommend customized solutions that provide high-quality coverage.
Important aspects of coverage for the construction industry include:
- Risk alignment and insurance purchase strategy for owners
- Project-specific risk alignment and insurance strategy
- Construction insurance purchasing
- Subcontractor Default Insurance (SDI)
- Claims advocacy
- Claims inventory workout
- Surety bonds