Insurance for the Construction Industry
The Mahoney Group has delivered tailored, comprehensive commercial insurance solutions to our clients for more than 100 years. Our Construction and Surety Bonding team understands the risks inherent in your profession and has worked with general and specialty contractors nationwide to help them lower their total cost of risk.
From highways and bridges to sports stadiums and hospitals, we deliver comprehensive risk-management solutions for everything between a single job to multimillion-dollar projects.
Who we serve:
- General contractors (commercial and residential)
- Specialty trade contractors
- Home builders
- Engineers, architects
- Construction managers
- Property and Casualty
- Contractors Equipment
- Builders’ Risk
- Commercial Auto
- Professional Liability
- Pollution Liability
- Workers’ Compensation
- Employment Practices Liability
- Excess/Umbrella Liability
- Cyber Liability
The All-Important E-Mod and How to Change It
Getting your e-mod under control takes patience. It does not happen overnight. In fact, because it’s calculated based on several years of data, it can easily take two or more years to begin to see it drop.
Typically, our strategy is to begin holding quarterly meetings with our client to review all claims.
We coach our client on the importance of prompt claims reporting. We also help our clients understand that it is in their best interest to be thorough in helping the insurer gather the facts on a claim. In other words, our client has to become a partner in investigating claims with the insurer.
Here are four more important items you’ll want to consider to help regain control of your e-mod:
- If you’re in the construction business – or any business, really – it’s a good idea to start by checking your e-mod score to understand why it is what it is. You’ll want to ask about the data used to calculate your e-mod and whether it is up-to-date and correct. Don’t assume your current insurance brokerage is doing this for you.
- You’ll want to be sure you have a sound safety program in place. This includes providing new employee orientations, refresher training, and remedial training as needed. Also, report injuries early, make sure to maintain safety training records for OSHA reporting, and investigate accidents and near-misses.
- You’ll need a return-to-work plan. One of the best ways to help an injured employee recover, and to keep your claim costs down, is to offer them modified work tasks. Modified duty may include modifying a worker’s essential tasks, changing work conditions or physically modifying the workplace.
- Double-check what the insurance company is telling NCCI about your claim. Insurers will set up a reserve to pay for a claim and will often submit that amount to NCCI rather than the actual, possibly lower amount required to resolve a claim. That can end up causing your e-mod to go up more than it should.
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The Mahoney Group Core Values
We serve our employees, clients and business partners with a servant's heart.
We deliver solutions that bring value and protection to the clients we serve.
We are accountable to each other, our clients and business partners. You can rely on us to always do the right thing.