How Insurance Has Changed For the Contractor

For contractors, insurance has changed in many ways over the years. As a former general contractor with 40 years in the industry, I believe one of the most significant changes is the relationship created between a contractor and their insurance company.

Contractors can often relate to having a relationship with their bank, but their insurance company is not always viewed in the same manner. However, as the Construction Consultant for Acuity Insurance, I see firsthand how insurance companies are partnering with contractors to aid in risk management and operational improvements.

I’m amazed at the resources and interaction Acuity offers its insured contractors. I believe this is revolutionizing the relationship between the construction and insurance industries, which greatly benefits contractors. It is important for contractors to choose an insurance carrier that understands the construction industry and their business.

As Acuity’s Construction Consultant, I help educate the insurance industry on the processes, procedures, standard practices, and areas of risk for construction companies, which helps in the development of insurance coverages and brings a level of comfort and understanding to underwriters and claims staff. For the insurance industry, having access to my years of construction experience has proven valuable. It also helps improve agents' relationships with their contracting clients.

Helping our insured contractors in their business operations is another important resource that is available to Acuity policyholders at no cost. It may sound strange to hear that an insurance company is helping construction businesses, but that is a great advantage of this relationship. Some of the articles I have written have inspired our insured contractors to contact me for further assistance with their business practices. Those articles include:

*Tips to Bid Incomplete Drawings

*Tips for Resolving Job-Site Problems

*The Cost of Unproductive Time on the Job 

*How to Teach Your Employees to Be Professional

*Understanding Building Lines and Elevations

*Tips for Working With Building Inspectors

*The Importance of the General Contractor and Subcontractor Relationship

*The Three Basic Categories of Project Costs

Here are some additional resources Acuity provides for their contracting policy holders:

• We staff highly trained loss control professionals who work directly with you to help improve safety, prevent accidents, and protect your most valuable assets—your employees.  
• Our M.A.S.H. program is a 24/7 nurse hotline for workers with non-emergency injuries. This service, which is free to everyone who has a workers’ compensation policy with Acuity, can help reduce your workers’ compensation expenses.
• Acuity’s OSHA 10-hour training is offered at no cost to our insureds and is taught by authorized trainers at locations throughout our operating territory.
• Our exclusive online educational materials, including videos, loss prevention articles, toolbox talks, and much more, are available anywhere at any time and will help your business with sustainable growth. 
• We have a diverse team of seasoned insurance professionals who continually focus on understanding the state of the construction industry and provide special coverage tailored for your business.
• No more surprises at audit! We understand your workforce may fluctuate throughout the year. AcuitySmartPay is a pay-as-you-go program that allows seasonal businesses to pay more premium during busy times and less when It’s slow. 

We strive to build long-lasting relationships with contractors. With more than 50,000 contractors placing their trust in us, and an impressive 95% claims satisfaction rating, our focus is you.