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New Buying Criteria For Contractors Choosing A Company To Manage Their Total Cost Of Risk

Use this chart to compare the value between a Construction Risk Advisor and any Insurance Agent you consider. Make sure you're getting every possible advantage from the person representing you to the insurance marketplace. As you get answers, you'll grow more and more confident about your decision.


Construction Risk Advisors

Typical Insurance Agent

What % of the company’s overall revenue is derived from construction clients?



What % of the company’s resources/employees are dedicated to construction clients vs. non-construction, personal insurance, life insurance, etc?



Who is your primary contact/advisor and how much of their time is dedicated to construction clients?



Is your primary advisor a risk management professional or a surety professional?



Will your advisor be compensated on a fee or be paid commissions by the insurance companies?



What Risk Reduction services are guaranteed as part of the service agreement?



What performance guaranty is provided?



What capabilities does the firm have that are created just for contractors?



How many staff have specific training focused on construction risk mgmt (CRIS)?



What involvement does the firm have with construction trade associations?



How many years has your primary advisor handled construction risk management?



Is your advisor networked with other trusted advisors dedicated to the construction industry?



How does the firm manage your open claims arising from OCIPs/CCIPs?



What specialized construction safety training is offered?



What are the firm’s top three construction accounts and how long have they had them?



Does the firm have access to Group Captives for contractors?



What is their experience with Alternative Risk Finance Mechanisms?



What process do they have in place to be sure your EMR stays below the “threshold of fear” (1.00)?



What recognition has the firm received for their accomplishment in construction risk management?



How much expertise do they have in Contractual Risk Transfer?



What types of professional designations are held by the staff members who will handle your account?



How will they help you bid OCIPs/CCIPs?



What capabilities do they have with Railroad Protective Liability, Professional Liability and Environmental Liability?



What relationships do they have with major construction insurance carriers?