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Although business management and performance are the major factors that will determine which contractors survive the downturn in construction, the size of the contractor also comes into play. As a rule, project owners are more likely to continue with larger developments because of their greater value, higher investment, and longer lead time. Smaller projects are easier to cancel, which makes smaller and midsize contractors (with work backlogs between $5 million and $100 million) more vulnerable to cancellation. If you're experiencing losses on a project, your first step should be to deal with overhead, liquidity, problems, and ongoing business concern. It's also essential to communicate any problems to your insurance agent and surety company immediately! Because the surety has a strong financial interest in preventing you from default on your bond, it will leverage its relationship with the bond underwriter to help you work through these difficulties and reach a mutually acceptable solution that will keep you on the job. However, a contractor withholding critical information about a problem situation from a surety would lead to a far different result. Concern about the contractor's deteriorating financial condition - which makes it a riskier bonding candidate - might make the surety restrict its future capacity, leading it to make the contractor either bid on only smaller projects that pose less risk to the underwriter or postpone bidding on all projects until the business can clean up its balance sheet. If you have any questions about working with your surety, please feel free to get in touch with the Bond professionals at our agency

We are Specialists ProSight Specialty Insurance focuses exclusively on markets where we have unique expertise. We are not a generalist and will not put capital at risk in markets where we lack expertise or strong distribution partners. This provides exceptional value for our customers while ensuring long term profitability and a stable market.

Fraud and embezzlement in the workplace has become an epidemic, costing American businesses an estimated $400 billion a year (6% of total revenues), according to The Association of Certified Fraud Examiners. Smaller firms are particularly vulnerable, because they're less able than their larger counterparts to afford extensive safeguard or to absorb the losses. What's more, one in four workers who rip off their employers have been with the company more than ten years. Employee Dishonesty insurance can protect your business from financial loss due to the fraudulent activities of an employee or group of employees. This coverage is also called Crime Coverage, Employee Dishonesty Bond, Fidelity Bond, or Crime Fidelity insurance. The policy applies to acts by all current and former employees, as well as partners, trustees, and directors, together with volunteers, seasonal employees, and temporary workers under your control. Covered losses can include: 1) theft, robbery, burglary or embezzlement of money, securities, or physical property of the business; 2) forgery or alteration; 3) fraudulent transfer of funds; 4) computer fraud; and 5) counterfeiting cash or money orders. The amount of coverage you'll need varies with the loss exposures your business faces. As a rule of thumb, companies that handle cash and securities, need at least 20% of their annual revenue in Minimum coverage for fraud and theft losses is usually $100,000 and many policies will cover $500,000 without significant additional premiums. You can also set specific coverage levels for depositor's forgery, computer, and funds transfers. Depending on your situation, you can buy Employee Dishonesty either on a stand-alone basis or as an add-on (endorsement) to your Business Owners policy or other Commercial insurance coverage. For more information on protecting your business against light-fingered employees, just give us a call.

Medical Staffing Agencies have more responsibilities and risk than the typical staffing agency. These types of agencies are employing nurses, doctors, medical technicians, medical assistants etc. With these types of employees, there are regulations, certificates, schooling, and background checks that these employees need to go through in order to become a nurse, doctor, medical assistant etc.

Spring is a popular time for adding to your home in the form of remodeling or putting up an addition. If you are like many people, you hire someone to complete the job for you. For most people, it is easier and faster to interview and hire a contractor to do the work instead of trying to muddle through it yourself. Peace of Mind With the Professionals  One of the reasons for hiring a contractor to build that much-needed addition to your home or to remodel your outdated kitchen is to ensure that the job is done right the first time. Unless your career requires you to know the latest building codes, it is unrealistic to expect that you do so. Instead you rely on your contractor to know -- as well as follow -- the safety regulations put forth by your particular locality. The Responsibility is Yours Even though the contractor you hired is doing all the work, it is ultimately your responsibility for what occurs with your home. This is not to say that you are in this alone. Rather it is to caution you to be aware of the risks you face if your contractor does not follow the applicable codes when doing the work you authorized. This is one reason to use only those contractors who are licensed, bonded and insured. Protect Yourself  One way to protect yourself is to check for the necessity of permits before allowing the contractor to start working. Request to see the permits if the contractor obtains them for you. Speak with your insurance agent to determine if additional coverage for the work is needed as well.

Here are some featured markets we thought you might be interested in taking advantage of: Healthcare Workers' Compensation Insurance, Artisan General Liability Insurance, Property and Casualty Insurance Agents Errors and Omissions (E&O), Liquor Liability Insurance, Private Client Services Insurance, Tow Truck Program, Cyber Risk/Data Breach Insurance and Workers Compensation Insurance

This year, many parts of the country have enjoyed such a mild winter that even in the Northeast, spring weather seems like it’s just around the corner—if it hasn’t arrived already. Take advantage of the moderate temperatures to get a head start on what should be an annual spring home maintenance routine. EXTERIOR INSPECTION “It’s good to do a walk-around of your property, especially after a storm,” says Curtis S. Niles, Sr., owner of Armored Home Inspections, Upper Darby, PA, and president of the National Association of Home Inspectors (NAHI). “Winter is tough on roofs and chimneys.” It can also take its toll on windows, walls, foundations, gutters and decks. Roof. You don’t need to climb up there yourself; with binoculars and a keen eye, you can probably spot trouble. Do you see any shingle-shift, suggesting that some fasteners may have failed and need replacing? Any cracked or missing shingles? What about nail-pops? “We call them eyebrows,” Niles explains. “It’s when nails push the tabs of the shingles up, allowing water to get in where those nails are coming through.” All will need to be addressed to keep your roof at peak performance. Chimneys. If you have a masonry chimney, check the joints between bricks or stones. Have any fallen out? Is there vegetation growing out of them? Each signals water infiltration. Also, look for efflorescence—”a white calcium-like deposit that indicates your masonry joints are no longer repelling water but absorbing it,” says Niles. Consider re-sealing masonry with a clear, impermeable or water-resistant barrier material (like Thoroseal products). Brush it on, small areas at a time; let it absorb for 15 minutes, then reapply—it may need a couple of applications. Exterior Walls. Whether you have wood siding, stucco or brick, look for trouble spots, especially under eaves and near gutter downspouts. Water stains normally indicate that your gutters are not adequately containing roof runoff. If you have wood siding, check for openings, damaged areas or knots that have popped out, making way for carpenter ants, woodpeckers and other critters that may nest in or burrow through. Foundations. When inspecting the exterior of your home, be sure to examine the foundation from top to bottom for masonry cracks. “Routine caulking by homeowners won’t do the job,” says Niles. “Hire a foundation specialist who can employ a two-part epoxy injection system that will bond cracks chemically,” he adds. Windows. Leakage around windows will admit warm summer air and let cooled indoor air escape, so be sure to check that any caulking and weather stripping you have in place has remained intact. “A tight seal is the first line of defense against air and water,” says Marty Davis, marketing manager, Simonton Windows, Columbus, OH. If you experienced condensation inside the glass on double- or triple-glazed windows during the winter months, the weather seal has been compromised, and either the glass or the window will need to be replaced. Spring-clean your windows—inside and out—with a store-bought or homemade window cleaner (one cup rubbing alcohol, one cup water and a tablespoon of white wine vinegar will work just fine) and either a squeegee or a soft cloth. Never use abrasive cleaners or a high-pressure spray washer. You don’t want to scratch the glass or crack the caulking around each unit. If screens were on all winter, remove and clean them with mild detergent. Lay them on a dry surface, like a driveway to air-dry before putting them back on. “Never power-wash screens,” urges Davis, “it could damage the mesh.” Read the entire article here. Content provided by http://www.bobvila.com/articles/2355-spring-home-maintenance-checklist/