Masonry Magazine February 1980 Page. 39
INSURANCE
INSURANCE
Coverage Check List
FOR CONTRACTORS
Prepared by the MCAA Insurance Committee in cooperation with Walter Derk and Richard Lietz of Fred S. James & Co., Chicago Illinois, MCAA's Insurance Consultant.
Without implying that any contractor, large or small, should necessarily buy all of the following coverages and optional extensions or that doing so will guarantee a good insurance program, we list here most of what is commonly available as a check list. You or your insurance representative should periodically examine current and renewal policies to determine which of these are presently insured, how much additional premium needed extensions would cost, and which, if any, to buy. Further, we have included an Administrative Check List for you as a starting point for any comprehensive review of your commercial insurance program.
ADMINISTRATION
1. Do you keep your payroll records in a format that clearly separates overtime payroll from regular payroll?
NOTE: Only straight time pay scales need be reported for Workers' Compensation premium calculations, if your records clearly separate extra premium.
2. Do you request and receive from your insurance representative loss experience reports for your General Liability and Workers' Compensation policies?
NOTE: The losses that your insurance company assigns to you, normally omitting the current year, are used to develop your experience modifications. It is important that only your accidents be used to determine your experience modification.
3. Does your insurance representative "pre-check" your General Liability and Workers' Compensation audits for accuracy prior to sending and/or billing these items to you?
4. Does your insurance company auditor allocate the proper payroll or receipts to the corresponding insurance rates?
NOTE: For example, is any of your Executive Supervisor payroll assigned to your Masonry payroll?
5. Does your auditor limit General Liability payroll maximums to $300 a week? $500 a week for corporate officers under Workers' Compensation?
6. Are you receiving transition credits under Workers' Compensation if your state is eliminating the average weekly maximum payroll?
WORKERS' COMPENSATION AND
EMPLOYER'S LIABILITY
1. Increased limits, Coverage B-Employer's Liability.
2. Broad Form All States Endorsement.
3. Longshoremen's and Harbor Workers'; Jones Act; Federal Employer's Liability coverage applicable to Railroad Operations.
4. Coverage C, Voluntary Compensation Coverage.
5. Adequate notice of cancellation by carrier.
GENERAL LIABILITY
1. Comprehensive Policy Form (Including Completed Operations).
2. Broad Form Liability Extension Endorsement.
3. Broad Form Blanket Contractual Liability Covering:
a) Written Contracts.
b) Oral Contracts (if available).
4. Deletion of Selected Contractual Liability Exclusions applicable.
5. Limits of Liability consistent with Automobile coverage.
6. Additional Insureds:
Employees.
Lessors.
Owners.
General Contractors".
Construction Managers".
Architects".
Engineers".
Trusts, Beneficiaries of Trusts.
*To be avoided, unless absolutely necessary to meet contract specifications.