Tradies Risk Management Checklist
Retentions Regime Under Review Again!
The protection of retentions has been an issue in the construction industry for years, not just in New Zealand but globally. Amendments to the Construction Contracts Act a few years back put obligations on head contractors to protect those retentions by holding them...
Why Take Out Statutory Liability Insurance?
In the year to August 2020 the construction industry was second for injuries that resulted in more than a week off work. It was 5,070 events. That’s over 100 per week! WorkSafe Prosecutions In Construction - 2020 and 2021 In 2020 there were 9 prosecutions of...
Avoiding Stuff Ups With Your Insurance – Liability & Indemnity for Contractors
With a large customer base operating in the construction trades we deal with a lot of liability claims. There are some issues that, while not common, could trip you up if you are not aware of them. The Right Occupation Liability and professional indemnity policies...
What are the insurance requirements when building modular / prefab / offsite / transportable?
There are almost as many names for this type of construction methodology as there are ways of doing it. With construction occurring across multiple sites and transport involving expensive building components there are some intricacies to the insurance programme that...
The cost of cyber crime to construction businesses is growing fast
Have you taken the simple steps needed to protect your identity, email, banking and business data from identity thieves, hackers or ransomware? Scammers are targeting builders because they are more likely to send invoices for large one-off amounts that can be...
Supplies are Running Low: Is Your Extra Stock Covered By Your Insurance?
On my recent road trip catching up with builders around the lower North Island pretty much everyone raised the issue of supply of materials. This included merchants out of stock, much longer lead times on ordering materials and cost increases across the board. Some of...
Are you doing everything your contract requires you to?
A lot of insurance is tied to contracts, so it’s critical you understand what’s in your contract and comply with the requirements in there. Even if you use a standard contract, things might change and you need to be on top of this, or you might end up in hot water....
Delays to Vehicle Repair and Construction Timelines
As you've probably heard already, COVID-19 is still causing significant disruption to global supply chains, with factory shutdowns, freight delays and backlogs at ports. We've already seen this with whiteware, electronics and furniture, and now auto parts are being...
Free Webinar from Builders Coach – Grow Your Business Now Or Never
When did you last revisit your business processes? The right people and processes are key to increasing your efficiency and profitability. Recently, Builders Coach has had unprecedented expressions of interest from builders wanting to know how to best grow their...
The Importance of Maintaining Your Professional Indemnity Insurance
A professional indemnity policy must be current at the time you are held liable for whatever it is you are alleged to have done. This is known as a "claims made" policy, because you have to have it in place when the claim is made against you. This differs from public...
Builtin’s 7+1 tips to avoid an unpleasant surprise these holidays
It's easy to forget things when you're thinking about Christmas and the holidays, as well as rushing to finish off projects for demanding customers. Here are seven + one things you should remember: 1. Secure your sites before you go (and take your tools with you)...
Some Recent Liability Claims from Builders and Other Trades
Examples of some recent liability claims from builders and construction trades.