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A loss control consultant (also LCC or loss control representative) is someone who possess a demonstrable knowledge and / or education in arts and science of safety engineering and risk management. A typical loss control consultant will possess a college degree in engineering or in business, commercial insurance, industrial safety, industrial ...
An OCIP may provide a number of advantages to a construction project owner, including: [6] Lower costs to the property owner as bulk purchase of insurance lowers total cost; OCIP broker and underwriting insurer will enforce stringent safety and loss control procedures; Reduction in time required to obtain insurance certificates for contractors
Contractor management is the managing of outsourced work performed for an individual company. Contractor management implements a system that manages contractors' health and safety information, insurance information, training programs and specific documents that pertain to the contractor and the owner client.
Builder's risk insurance (Contractor's All Risk insurance – CAR insurance) is a type of property insurance which indemnifies against damage to buildings while they are under construction. [1] Builder's risk insurance is "coverage that protects a person's or organization's insurable interest in materials, fixtures and/or equipment being used ...
For example, construction professionals cannot remove the danger of asbestos when handling the hazardous agent is the core of the task. [3] The most effective control measure is eliminating the hazard and its associated risks entirely. The simplest way to do this is by not introducing the hazard in the first place.
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Whether or not general liability insurance covers construction defects or "faulty workmanship" is a matter of some debate, as some insurers have viewed poor workmanship as a risk that is covered by a surety bond rather than an insurance policy given that a construction professional may have some influence (through attention to detail, skill, and effort) over whether such a defect occurs.
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