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Construction companies can be crippled by costs associated with their commercial insurance policies. Raised premium costs can affect projects currently in process and can affect the company’s ability to bid on future projects. At Navigator Risk Management we address the Why’s behind growing insurance costs and focus on managing those Why’s to reduce costs. We have several Construction Risk Management programs that can help mitigate risk and reduce insurance costs.

Vendor Qualification

A certificate of insurance doesn’t always tell the whole story. Suppose you’re a developer, a real estate owner, or a contractor. In that case, you’re putting a lot of financial faith that another contractor or sub-contractors insurance policy can cover unexpected issues during a project by only confirming they have some form of insurance. Navigator Risk Management offers vendor qualification assessment services to provide greater peace of mind in these instances. By verifying the type of insurance and the amount of coverage a sub-contractor has, you can move ahead with projects confidently.

Captive Insurance

A captive insurance program is a form of self-insurance where a company creates its own insurance company to cover its risks. This can be particularly advantageous for a construction company due to the unique and high-risk nature of the industry.

EMR Monitoring

EMR monitoring is a proactive approach to managing a company’s workers’ compensation costs by focusing on improving safety, effectively managing claims and ensuring data accuracy. A company with a favorable EMR can have lower insurance premiums, a safer workplace and a strong financial position. At Navigator Risk Management we track a business’ EMR and develop a proactive approach to reducing the score if it is high and maintaining a score if it is favorable.

Policy Score Cards

Our dedicated Risk Professionals team reviews your insurance policies for red flags. After our review, we share our “Policy Report card” with your team and explain the points of concern.

HR Support

We offer clients the Human Resources support they need when their business feels too small for an HR Department. We offer an up-to-date, fully compliant, Human Resource tool kit to help solve employee and company issues. From Payroll and onboarding to terminations and workers’ compensation claims, we offer access to live HR professionals with recommendations and assistance when our online tools don’t address your problem.

Contact Your Risk Specialist for More Information