Masonry Magazine April 1992 Page. 16
INSURANCE
FOR CONTRACTORS
New Contractor Book
Clarifies Many Changes
A new, completely revised and updated Sixth Edition of Insurance For Contractors has just been published. The author, Walter T. Derk, uses 28 plain language examples to illustrate points otherwise buried deep in contractors' insurance policies and provides solid advice about what to do in specific circumstances.
Intended primarily for contractors, architects, engineers, construction managers, development owners, their counsel and risk management professionals, the guide concisely highlights reasons for all the changes and how they may commonly affect, or not affect contractors.
Among the subjects covered in largely non-technical terms are:
* Commercial
* Comprehensive General Liability Changes
* Occurrence Versus Claims-Made
* New Aggregate Limit Considerations
* Association Insurance Programs
* Coordinated Insurance Programs
* Certificates of Insurance
* Many other subjects
Single copies of the new paperback Sixth Edition are available by mail @$11.50, pre-paid in the United States. Quantity discounts available upon request, starting with five or more.
Please send copy(ies) of the 1989 Sixth Edition of Insurance For Contractors, by Walter T. Derk @ $11.50 per single copy, postpaid.
Please send quantity discount list:
Firm Name:
Attention:
Street Address:
City:
State:
Zip:
Check Enclosed
INSURANCE FOR CONTRACTORS P.0.Box 2165, Naperville, IL 60567-2165
are reported. Suppose a contractor wishes to withdraw from the contracting business and his or her liability coverage ceases to exist. What happens if, in 1995, a claim based on an injury which occurred in 1991 is reported? No current coverage is in place which will respond under the "claims made" provision. A "run off" provision can be purchased to pick up such future claims, even though there is no coverage in force.
This is a series of changes which require the contractor to use competent insurance representatives to make certain no gaps occur in the contractor's liability coverage.
Expect Increase In
Construction New Hires
ALTHOUGH lower than the figure for the last half of 1991, plans for increased hiring in the construction industry for the first half of the year are again in excess of the national average. This projection comes from a recent poll conducted by Management Recruiters, International.
Of the executives polled, 35.4 percent indicated plans to increase their middle management and/or professional staffs, which exceeds the national average of 29.4 percent by a considerable margin. The figure is down by 6.3 percent over projected increases for the last half of 1991. An additional 41.7 percent plan to maintain their current staff sizes, and 22.9 percent plan staff decreases, up by 6.2 percent.
AED Elects Officers
CONSTRUCTION equipment distributors elected H.B. Hayden, Jr. as president of the Associated Equipment Distributors at the AED convention in New Orleans in mid-January. More than 2,500 executives from all segments of the construction equipment industry in the U.S., Canada and abroad attended the convention. Hayden is president of Metroquip, Minneapolis, Minnesota, a company he established in 1975.
Other officers elected to serve on the 1992 AED executive committee are: Bernard J. Faloney, senior vice president and treasurer, president of Contractors Machinery, Burlington, Ontario, Canada; Joseph A. Paradia, III, vice president, president of Brandeis Machinery and Supply, Louisville, Kentucky; J. William Puller, vice president, president of Whayne Supply Company, Louisville, Kentucky; and James A. Crawford, vice