Nov 5, 2024
Today's episode explores the crucial topic of risk management for contractors, featuring expert guest John Shelonko, a seasoned risk management professional. John and Eric are joined by Kathy Jo Ferreria from Eric's team. They discuss the importance of contracts, insurance, employee safety, and the potential pitfalls contractors may face if they don't proactively manage these areas. This conversation will help equip contractors with insights and practical advice to protect themselves and their businesses from unforeseen risks.
In this episode, they talk about...
The significance of additional insured endorsements in contracts, which protect homeowners from liability if a contractor's employee gets injured or causes damage to a third party.
The importance of contractors maintaining good relationships with their insurance agents to understand policy details and the implications of handling claims independently.
The risks associated with not reporting incidents to insurance companies, including the potential for increased premiums or policy cancellations.
Essential safety protocols for contractors, emphasizing communication, reinforcement, and leading by example.