Articles, Guides, Checklists and Videos
Articles
Risk Management and Insurance 101 for Building Apprentices
As an apprentice working for a builder, hopefully on wages and not as a contractor, you have less to worry about than the business owner. But if your plan is to go out on your own one day it pays to have at least a basic understanding of the risks you will need to manage, and what sort of insurance package you might need.
Three construction companies ordered to pay more than $675,000 after two worker deaths
Three companies working in the construction sector have been sentenced for two separate incidents that each resulted in the tragic death of a young worker.
De-risking Your Construction Business in 2024
The content and video from our “derisking your construction business in 2024” seminar.
2024 Construction Sector Risk Outlook
In our annual outlook for the New Zealand construction sector we outline what we think the sector is going to experience over the coming year The report includes what you can do to both be prepared for threats and take advantage of opportunities.
How much will a liability policy pay if you cause damage to someone’s property?
Public liability insurance covers the loss someone else has suffered that you’re responsible for. But, it will only cover the actual value of the damaged item, not the cost to replace it with a new one. That can leave a gap between what you’re liable for and what the policy covers. That’s why it’s best for these claims to first be made on the building or contents insurance, as those policies pay replacement value. That insurer will then seek to recover their loss (the full replacement value) from you and your liability insurance will cover this whole amount (since that is the amount of the loss the insurer has suffered). The homeowner’s excess will be covered too and they won’t have an adverse claim history either, since their insurer was fully reimbursed for the claim.
Should I claim on public liability or contract works insurance?
It’s not uncommon for accidental damage to potentially be covered under both contract works and liability insurance. Generally, this comes up when a sub-contractor has caused damage to other parts of the work in progress. Which policy should the claim be made on?
Is Planning for Nothing to Go Wrong a Good Business Strategy? Plus, Our Risk Minimisation Checklist for Construction Professionals
Hoping for nothing to go wrong is a common strategy used by many unsuccessful businesses. A more effective strategy used by successful business owners is planning for nothing to go wrong. We’ve developed a checklist to help construction professionals plan for nothing to go wrong in their business.
Builtin’s 8 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 eight things you should remember: 1. Secure your sites before you go (and take your tools with you) They're...
The Difference Between Defective Workmanship and Property Being Worked On Cover in Public/General/Broadform Liability Insurance
Insurers in New Zealand have different approaches to the way they cover issues of faulty workmanship. This is particularly relevant for contractors that commonly work on or around other people’s property. Which cover is the right one depends on the type of work you’re doing.