In 2014 a builder was fined over $10,000 for breaching the Resource Management Act in relation to the renovation of two Auckland properties.
How insurance can protect builders if they breach environmental laws
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Does insurance cover gradual damage?
A high proportion of disputed insurance claims involve gradual damage, and there has been a spate of recent claims involving timber left exposed to weather.
What happens to your income if you get sick? ACC won’t cut it.
80 in every 100 builders have not optimised their ACC and don’t have protection in case of illness. Yet this is one of the biggest risks to your income.
Cyber attacks are becoming a genuine threat to Kiwi trade businesses
Have you taken the simple steps needed to protect your electronic records, email, banking and invoicing data from viruses, hacking or ransomware?
Builtin’s 8 tips on getting your commercial vehicle insurance right
If there’s one asset a tradie will have insured it’s their ute/van/wagon/truck. This article lists 8 tips to help ensure you have the right cover and are getting the best value from your policy.
Should builders insure their tools?
Tools theft is rife around the country at the moment and if it hasn’t happened to you yet you’ve probably at least heard of it happening to someone you know. We’re urging all tradies to take extra precautions when on site and to ensure your tools are securely locked away, ideally out of sight from the road at night.
How recent changes to the Construction Contracts Act affect your retentions
New rules for protecting retention money came into effect on the 31st of March 2017. These require developers and head contractors to hold “on trust” any retention money they’ve withheld from their subcontractors. This on trust obligation, which applies to all...
A reminder about the key issues with construction/contract works insurance
Construction (contract works) insurance is a contractual requirement for most building projects. Here are some of the most important things to be aware of when it comes to contract works insurance.
Pitfalls in contract works insurance – three important issues that affect your cover
As with any contract of insurance, the devil is in the detail and it’s important you read and understand the terms & conditions contained within it. Below are three things you may not be aware of that could affect your cover. Cessation of Work Most policies...
Risk Management & Insurance Basics for Tradies
Running any kind of business involves a certain degree of risk, and building trades are no exception. Indeed, tradies face additional responsibilities placed on them by the Building Act, such as disclosure requirements, mandatory contract terms and implied warranties....
Ransomware attacks an increasing threat to Kiwi trade businesses
Attacks on small business have skyrocketed in the last 12 months, as hackers target poorly protected systems for ransom.
A better way to manage retentions – with a retention bond
From the 31st of March 2017 retention money withheld by a principal or contractor must be held “on trust” until being released to the subcontractor. Retention bonds offer many benefits for principals, contractors & subcontractors, including improved cashflow and no onerous “on trust” obligations.