Mar. 20, 2002: Top Three Insurance Claims For Contractors
FALLS CHURCH, VA — The Plumbing-Heating-Cooling Contractors – National Association (PHCC) reports that, according to Federated Insurance, the most frequent insurance claims in the contracting industry are generated from vehicles, workers’ compensation, and products and completed operations.
These three areas make up 84% of all claims submitted by contractors. Federated’s loss analysis indicates that the typical plumbing-heating-cooling contractor can expect to have one vehicle claim and one workers’ compensation claim each year.
PHCC’s Safety and Risk Management Committee will be looking into ways to help member contractors reduce losses in these three areas.
Publication date: 03/18/2002
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