Executive Risk Management Services
 Rigg Construction
A Specialty Division of Wm. Rigg Company
Our professionals know the impact an effective risk management strategy
has on your business. A properly structured program can help you achieve
a number of key business objectives, from increasing contract awards
to improving workforce productivity, stabilizing financial performance
and managing cash flow. An effective program requires more than just
a working knowledge of insurance, surety products and safety procedures
to create an effective risk management program for a contractor’s
operations. Our construction team coordinates insurance and risk management
programs for a variety of contractors, from specialty trades to multi-national
general contractors, with needs that range from basic brokerage services
to the development of highly integrated risk control, transfer, and
retention programs.
Rigg Construction’s goal of providing world-class consulting & brokerage
services includes:
Construction Risk Management
- Program Design and Marketing
- Risk Analysis
- Risk and Loss Control
- Financial Analysis
- Claims Advocacy Consulting
- Environmental Risk Assessments
- Controlled Insurance Programs (Owner & Contractor
Controlled)
Construction Insurance Coverages
- General Liability
- Automobile
- Workers Compensation
- Umbrella
- Builders Risk
- Owners and Contractors Protective
- Railroad Protective
- Pollution Liability
- Professional Liability
- Directors & Officers
- Employment Practices
- Benefits
Construction Surety Bonds
- Appeal
- Contract
- Financial Guarantee
- Release of Lien
- Attachment
OWNER CONTROLLED INSURANCE PROGRAMS:
- Typical Construction Project - Each Contractor/Sub-Contractor
Purchases Its Own Insurance and Incorporates the Cost of Insurance
and the Associated Markup into the Bid Price.
- Controlled Insurance Program - The Owner or the General
Contractor Purchases Insurance Coverage for Approved Contractors.
In Return
Each Approved Contractor Removes the Cost of Insurance From
Its Bid.
ADVANTAGES:
- Provides Insurance Limits Equal or Greater Than Most
Standard Insurance Programs.
- Virtual Elimination of the Administrative Burden of
Coverage Control and Certificate Monitoring for the Contractor
and Owner.
- Enhanced Safety and Loss Control Program.
- Claims and Litigation are Consolidated with One Primary
Insurer and a Single Excess Liability Program as Opposed to Multiple
Parties.
- Reduces the Delays and Costs Associated with Litigation
Following a Major Loss on Large Projects with Multiple Insurers
and Attorneys.
- Centralized Claims Management Can Help Reduce the Adverse
Publicity Which Follows a Catastrophic Loss.
- Completed Operations Coverage is Provided on a 3 Year
or 5 Year Basis.
- Completed Operations Provides Protection Against Third
Party Claims Arising From Defective Work Which May Occur Years
After Project
Completion.
The main advantage the implementation of a Controlled Insurance
Program will provide the Owner or the General Contractor is to reduce
overall
insurance costs by as much as 50%. The implementing of a Controlled
Insurance Program will also provide more substantial insurance
limits, a safer work environment for workers and the public, and
more efficient
claims handling for legitimate claims.
The success of a Controlled Insurance Program is only as reliable
as the team who will be orchestrating the Program’s activities
from inception to completion. The team lead by Wm. Rigg Co. brings
a team of individuals with the most direct Controlled Insurance Program
experience and resources that can be found in Texas.
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