Insurance and Workers Compensation for Construction - Webinar Series
We all want to improve safety and health on construction sites. Injury, illness and other data can help us as we make decisions, but not all data are easily available. There are ready sources of data relevant to construction safety and health (e.g., BLS, CPWR), and the insurance industry is another; however, it is unclear to many whose work could benefit from these data, such as researchers, how they would obtain, interpret, and use insurance data. Through this webinar series, we explain how construction projects and contractors are insured, how the insurance industry can influences safety and health, and how researchers can tap into this important resource.
William B. Noonan
Head of Construction – Large and Complex Accounts Executive Vice President -North America Construction Willis Towers Watson
Thursday, January 19, 2017
Construction Defect litigation are the highest exposure claims to construction companies. Insurance companies are finding more and more ways to deny coverage or greatly limit coverage available to contractors.
This presentation discusses the role of insurance for contractors, addresses common misconceptions and goes in depth into the various types of insurance (casualty, property, and specialty) and variations within each. Mr. Noonan describes CCIPs, OCIPs, and DCIPs and how they are different from traditional insurance programs. He also covers insurance certificates and additional insurance coverage endorsements.
Sean M. Coll, CSP, ARM
February 8, 2017
NIOSH Director’s Seminar Series: How are construction projects insured – Part 1.Large Projects
Date of conference: Wednesday, February 8, 2017, 1:00 pm ET
If a supervisor or foreman is not willing to implement a contractor’s safety policies, it’s only a matter of time before an injury or death occurs.
This presentation discusses how large general contractors and subcontractors split insurance costs and starts off by defining: insurance agents vs brokers, coverage towers, types of programs, types of coverage, state rates and class codes, and experience modifiers. Mr. Coll describes the different types of insurance programs that contractors may be involved with to include: Typical Owner-GC-Subcontractor relationship, Owner Controlled Insurance Program (OCIP), Contractor Controlled Insurance Program (CCIP), and Captives. Additional highlights include a discussion about the factors involved when insuring a contractor, financial information an insurance carrier reviews when considering writing a policy for a contractor, as well as an example of how loss data that can be used to help drive or focus interaction with the insured when providing risk consulting services.
John Rabovsky, MS, CSP, CHST, CRIS, ARM, Managing Director – Technical Services, Commercial Insurance Risk Control Services
George “Don” Tolbert, CSP, Technical Director, Risk Control Services Liberty Mutual Insurance
February 22nd, from 1:00 pm – 2:00 pm ET
Effective risk managers for construction firms form strategic relationships with their insurers on multiple levels.
This presentation discussed midsize contractors as a group and the risk characteristics considered in the underwriting of work done by them. The framework for hedging against future loss through contractual risk transfer—insurance—is described in the context of workers compensation for construction. The presenters explain the various types of insurance (risk financing) plans available to employers; what differentiates them for insurance buying stakeholders in the midsize construction marketplace; realms of relationship between risk retained and savings opportunity; and risk rating mechanisms. The presenters explore the influence of loss on project management decision-making, and examine the “upside” for midsize contractors that consider the daily management of risk reduction for their projects relative to their ongoing ability to optimize value.
President, Jobsite Safety Institute, Builders Mutual Insurance Company
March 15th, from 1:00 pm – 2:00 pm ET
This presentation focuses on small contractors who specialize in small and medium size projects and understanding how insurance impacts their business. The presentation shows how absolutely critical it is for the small contractor to have a strong safety focus including ensuring a broad range of training is provided. Insurance companies and industry associations often provide much of this training for the small contractor. Additionally, the insurance carrier commonly evaluates a company’s commitment to maintaining a safe work environment as part of the application process.
Steve Wurzelbacher, Ph.D., Director of the Center for Workers’ Compensation Studies, NIOSH
Sue Dong, DrPH, Director of the Data Center, CPWR – The Center for Construction Research and Training
April 12th at 1:00-2:00pm ET
This presentation examines injury, illness and related demographic and cost data that are available from insurance sources. It also highlights workers’ compensation data and other information that are particularly useful for construction safety and health researchers. The presenters discuss what data researchers and others can gain access to and where or who they should contact to obtain these data. The presenters end with sharing practical tools, solutions and resources (i.e., claims auto-coding programs, data visualization, and several online tools: solutions databases, return on investment (ROI) calculators, training, and program and risk assessments).