Leading general liability insurance, commercial vehicle coverage, workers compensation and bonds provider for contractors, Statewide Insurance Brokers, has announced that it has broadened its contractor insurance offerings to include Washington State. The insurer has been providing these products to thousands of contractors of all forms from painters to electricians, since 1995. Today, Statewide Insurance is operating in seven states – Nevada, Oregon, Texas, Virginia, Washington, Minnesota, and California – but has plans for widening. According to one of the company’s senior underwriters, Lana Matar, demand is what is fueling their…
Read MoreTag: contractors liability insurance
Allstate New Jersey Insurance Company give homeowners advice for post-Irene home repair
Following the flood, winds, and related damage from Hurricane Irene, Allstate New Jersey Insurance Company has made their suggestions regarding the best ways to ensure that homeowners are protecting themselves against scams from unscrupulous contractors. The suggestions made by the insurer include the following: • Don’t rush when making the choice for the right contractor – take your time and do your homework. • Obtain estimates from a number of contractors who are licensed and bonded. • Verify the contractors claims regarding their credentials through the use of the Better…
Read MoreConstruction projects face more widespread delays and financing risks
The struggle of today’s economy is causing a greater amount of uncertainty with construction projects and their related risks, especially in terms of delays and financial risks as a result of lending organizations. Though issues with lenders have always been a concern and a consideration of brokers, newly implemented conditions complying with government agency and private lender regulations have made borrowing a greater challenge. As a result, many construction projects are now finding it difficult to obtain the financing required to get started, while others have had to halt their…
Read MoreNew regulations in New York make for impossible contractor insurance requirements
New insurance regulations are slated to go into effect in New York City next week, leading many insurance agents to warn contractors in the City that it may be too late to obtain increased coverage. The City’s Department of Buildings has made changes to the requirements associated with general liability coverage. Effective June 13, insurance policies that do not cover liability for completed work, explosions, collapses and other catastrophic events will be prohibited. Several of the new regulations will make it nearly impossible for the majority of contactors in the…
Read More