Today's construction risks emerge early and multiply in complexity as a construction project or enterprise grows.
These risks include:
- Volatility in global capacity for construction financing, which affects the availability and underwriting terms
of traditional insurance coverage and surety bonding.
- Inefficient risk program management and claims administration, which can decimate cash flow and reduce
profitability.
- New and unexpected risks that expose profitable bids and business plans to potential loss.
PrideMark-Everest specialists can help contractors, project owners, developers, designers, and homebuilders address
these issues. PrideMark-Everest is the market leader in contractor and homebuilding insurance products, surety, owner and
contractor controlled wrap-up programs and risk management services. Our team of professionals understand every major sector
of the construction industry and offer the most advanced software and technology service platforms for the delivery of risk
management services in the industry. We have the intellectual capital, market access and financial strength of the most
trusted name in risk management and insurance brokerage around the globe today.
Market Knowledge: Active participation in today's fluid insurance markets is critical to successful construction risk
placement. PrideMark-Everest places millions of dollars in the global construction insurance market each year, and establishes
strong working relationships with many of the world's largest and most respected insurance and surety underwriters.
Construction Expertise: Our professionals average more than 20 years of experience in the construction industry, with
backgrounds in commercial and industrial project development, homebuilding, public infrastructure and environmental
management.
RISK MANAGEMENT PARTNER
PrideMark-Everest brings a complete set of skills and experience to your risk management needs, including:
- A wide range of traditional products and alternative risk management strategies.
- Broad capabilities to structure effective risk management behaviors into an organization, reinforcing safety
commitments and protecting profitability.
For organizations of every size, and construction projects of all levels of complexity, PrideMark-Everest's construction
services experts will partner with you to create strategic risk management solutions.
SURETY
Surety bonding, which has been used in the construction industry for more than 100 years, is required on most large
public works projects and is widely used in the private construction sector as well.
WRAP-UPS
Wrap-up insurance programs are an increasingly popular risk management technique used by owners and general
contractors of large construction projects to exert greater control over total construction costs, while enhancing overall
project safety.
CONTRACTOR DEFAULT INSURANCE
Contractor Default Insurance (CDI) is an insurance alternative to contractor and subcontractor
surety bonding. CDI indemnifies an insured for losses incurred as the direct result of a contractor, subcontractor or supplier
default.
ENVIRONMENTAL RISK MANAGEMENT
Environmental risks are a serious and growing issue for the construction industry. Although
many construction firms believe that environmental exposures are associated only with environmental work, they exist in every
facet of a construction firm's practice.
XL CONTRACTORS POLLUTION COVERAGE
The pollution and mold coverage program is for contractors, with the target classes:
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General Contractors:
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Commercial; Industrial; Construction Management and Industrial
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Trade Contractors:
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Civil Industrial; Concrete; Painters; Mechanical/Electrical; Plumbing;
tone Cutters; Street & Road; Tile Setters; Utility; Masonry; Insulation;
Drywall; Plastering; Heating,Ventilation; HVAC; Excavation; Grading;
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Minimum premium is only $2,500.00 annually.
The carrier will provide Pollution Coverage and Mold/EIFS. They do require
their own app plications (attached). The pollution is written on an occurrence
form, however, the mold coverage, if requested, is included by endorsement and it is
written on a claims-made basis.
Program Requirements:
Application ? carrier specific, as well as the Acord 125.
Five Year GL and Auto Liab Loss Runs
Financials-two year
Detailed Description of operations
ABOUT CRM
Compensation Risk Managers, LLC (CRM) is a national,
full-service program manager and administrator for approved,
group self insurance workers' compensation programs.
Our dedicated team of professionals provide individual employers and groups
with a wide array of services. These services include, statutory program design,
regulatory compliance, cutting edge loss control programs, and aggressive
claims management.
With headquarters in Poughkeepsie, New York and Irvine, California and with
offices throughout the United States, we provide the experience and expertise
to design insurance programs that reduce employers' net costs and improve
the services they receive. CRM manages over 125 million dollars in workers'
compensation premium in a variety of industries.
Why have CRM and our programs been so successful?
We out perform the standard insurance industry.
CRM Mission
Compensation Risk Managers, LLC (CRM) is dedicated to becoming the
industry leader in the development and delivery of innovative insurance programs.
Our success will be achieved through:
- Providing our employees with a challenging and satisfying work environment.
- Continually investing in our infrastructure and leveraging technology to enhance our service delivery systems.
- Operating in the most efficient manner to maintain profitability.
- Fully supporting the independent agency system.
- Developing new insurance vehicles to improve our customers' positions for today and the future.
BASICS OF GROUP SELF INSURANCE (GSI)
What is group self insurance?
Group self insurance is a cost effective alternative that enables
employers to protect the people they depend on most ? their workforce.
Group self insurance allows similar companies to join together to
share the costs and rewards associated with this type of mandatory
insurance. All of our groups are approved, regulated and monitored
by each state's workers' compensation regulators.
Why use group self insurance?
Finding workers' compensation insurance is becoming increasingly
difficult and expensive for employers. CRM group self insurance
programs offer independent insurance brokers and their clients a
multitude of benefits.
Members of self-insured groups share both the costs and the
rewards inherent to insurance. CRM provides the opportunity
for substantial savings, stability and the ownership of all
surplus dollars. We offer innovative products and solutions
to help companies solve the complexities of this mandatory insurance product.
ELIGIBLE CRM CLASS CODES
Class Codes
5027 Masonry
5028 Masonry
5107 Door, Door Frames, Window Installation
5108 Door Installation
5140 Electrical Wiring
5183 Plumbing/ Refrigeration Equip.
5185 Automatic Sprinkler Installation
5186 Automatic Sprinkler Installation
5187 Plumbing/ Refrigeration Equip.
5190 Electrical Wiring
5191 Office Machine Installation or Repair
5201 Concrete or Cement Work
5205 Concrete or Cement Work
5212 Concrete Pumping
5213 Concrete Construction
5214 Concrete or Cement Work
5222 Concrete/Chimney Construction
5348 Tile, Stone or Mosaic or Terrazzo Work
5403 Carpentry
5432 Carpentry
5436 Hardwood Floor Laying
5446 Wallboard Application
5447 Wallboard Application
5474 Painting & Decorating
5482 Painting & Decorating
5484 Plastering & Stucco
5485 Plastering & Stucco
5645 Carpentry
5697 Carpentry
6218 Excavation/Land Grading
6220 Excavation/Land Grading
8742 Salesperson
8810 Clerical Office Employees
9051 Painting
Requires Reinsurance Referral
0042 Landscape Gardening
5484 Plastering and Stucco
5485 Plastering and Stucco
1463 Asphalt Works
1803 Stone Cutting/Polishing
3724-2 Electrical Machinery Repair
4130 Glass Merchant
5040-1 Iron or Steel Erection
5108 Door Installation- Overhead Doors
5146-1 Cabinet or Fixtures- NOC
5443 Lathing
5467 Glaziers
5470 Glaziers
5479 Insulation Work NOC
5506 Street or Road Construction
5507 Street or Road Construction
5538 Sheet Metal Work
5542 Sheet Metal Work
6316 Water Mains or Connections Construction
6400 Fence Construction- Metal or Wood
7601 Telephone or Fire Alarm Construction
8227 Construction or Erection Permanent Yards
8601-1 Engineers
9015 Building Operations- NOC
9403 Street Sweeping Service Companies
9501 Painting Shop Only
9521 Floor Covering Installation
9522 Upholstering
9529 Scaffolding Installation or Removal
Secondary Class Codes
2806-1 Door, Sash or Window MFG- Wood
2806-2 Shutter MFG- Wood
2812 Cabinet MFG- Wood
2819 Truss or Building Components MFG- Wood shop
3179 Electric Apparatus MFG- NOC
3401 Tube or Pipe Products MFG- NOC
5606 Contractor- Executive Supervisor
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