Risk Transfer for Contractors Program
As a contractor and a businessperson, it’s in your best interest to transfer your risks down to your subcontractors for their negligent acts performed on your behalf. The failure to transfer these risks to an at-fault subcontractor may make you responsible for their negligent acts, expose you to uninsured or underinsured liabilities, and result in higher insurance costs for your business. We provide the following suggestions to assist in your decision making.
3 steps to creating an effective risk transfer program
Understand the importance of proper contractual risk transfer
Review Risk Transfer for Contractors – Part I to learn how incidents involving subcontractors can lead to lawsuits against contractors, and see Contractual Risk Transfer Basics for an FAQ and glossary.
Know the 8 essential minimum contract requirements
Read Risk Transfer for Contractors – Part II to learn what provisions every contract you enter into with a subcontractor should contain, and why it’s always best to seek the counsel of a qualified attorney.
Use our handy tool to help implement your program
Check all the boxes on our Risk Transfer Setup Guide for Contractors on your way to establishing a proper risk transfer program to help protect your business against costly claims.
More about risk transfer
- Best practices for selecting a contractor
- Certificates of insurance overview
- Contractor’s checklist: Minimum contract insurance requirements and limits
- Risk Transfer for Contractors (Parts I and II combined)
Construction-related loss control bulletins and forms
- Hot work permits
- Ladder-alternative job sites
- Portable ladder safety program
- Portable ladder safety checklist
- Trenching and excavation safety
- Welding safety - English and Spanish