Contractor’s Equipment Safety and Effective Risk Management
2 minute read
Ensuring the safety and security of contractors' equipment is a critical aspect of the construction industry. Our recent webinar delved into some best practices for underwriting, claims and loss control when managing contractors' equipment. In addition, it introduced Equipment Pro, Great American’s newly refreshed Inland Marine product.
Presenters
- Jared Bishop, Divisional Assistant Vice President of Loss Control at Great American Insurance Group, introduced the session, facilitated discussions, and provided in-depth insights into proactive loss control strategies.
- Holly Scholz, Product Management Director in Great American’s Property & Inland Marine Division, introduced the newly refreshed Equipment Pro product, highlighting its expanded coverage options.
- Jason Brigger, Senior Claims Manager in Great American’s Property & Inland Marine Division, discussed claims management for contractors' equipment.
Key Insights and Takeaways
- Underwriting and Submitting Contractor’s Equipment Accounts
- Detailed guidelines for underwriting contractor’s equipment
- Steps and necessary documentation for submitting accounts
- Submitting Contractor’s Equipment Claims
- Important considerations for submitting claims to help ensure smooth handling
- Importance of accurate scheduling with details like model year, manufacturer, type and serial number to avoid coverage issues
- Proactive Loss Control Measures
- Strategies to help prevent losses and manage risks, focusing on theft/vandalism and equipment fires
- Importance of site-specific assessments and tailored loss control measures
