Business Insurance Austin Texas | MrBusinessInsurance.com
  • Home
  • About Us
    • Contact Us
    • Contact Form
  • Blog
  • Restaurant Insurance
  • Business Insurance
    • Business Insurance Basics >
      • A&E Insurance
    • Business Insurance Costs >
      • Application
  • Certificates
  • FAQ
    • Privacy Policy

3 Ways Engineers can Reduce Insurance Claims

2/20/2018

0 Comments

 
Picture
Engineers have a lot to contend with when it comes to Business Insurance and claims. The reality is, no business or person is perfect, so accidents do happen, and given the litigious society we live in today, claims come with those unforeseen accidents. It's important to have the right policy in place for coverage, but it's also good to have a plan in place to reduce insurance claims. Once you have a contract in place, here are 3 Ways Engineers can Reduce Insurance Claims. 

1. Quality Control: Another set of eyes on your work.
Some people do not like to have others check their work, however, it can go a long way when you do. After all, we are all humans, and none of us are immune to human error.  Engineers are under a tremendous amount of pressure these days when it comes to projects. Have a senior person, or qualified person, within your organization check your work. If that is not possible, consider the services of a qualified consultant. Yes, this might be an additional cost to the project that could cut into profits or add more time, but it's better to be safe than sorry. Two sets of eyes are better one. 

2. Communicate. Keep the lines of communication open and manage expectations. 
The last study I read, communication was the number one reason for engineering claims in the industry.  This isn't surprising since another study showed the number one thing clients want from design professionals and engineers is, you guessed it, better communication. Review and manage the scope or work, schedule of work and the cost of work with your client. Find out the clients preferred form of communication and secondary form of communication. If there are problems, respond proactively and promptly. Make sure to return phone calls within 24 hours (obviously earlier the better), even if it's just to say you are still working on it. Let them know they haven't been forgotten by simply telling them, I haven't forgotten about you. I know when people tell me this, I appreciate it. Nobody likes to feel like they've been forgotten. 

​3. Document. Document. Document. 
We've all heard this one before, but it's always a good reminder. Always document when you've presented or discussed the scope, schedule, cost and/or any other important information. Things change, make sure to document them. It's easy to forget phone conversations these days when we're taking a call while driving or multitasking. Request an email for any changes. Always consider what is really being asked and do not give an off the cuff answer. If they are major changes to the project, request a meeting. After the meeting, send a follow up email titled "Action Items" with documentation of the change in scope of work and ask the client to confirm receipt of the email. 

These are just a few things that might help reduce insurance claims. If you would like more information on ways to reduce claims, please let me know. Be aware that contractors will most likely go after the design professional if they are brought into any kind of law suit, so it's very important to try to reduce your exposure. We represent insurance carriers that offer training on this subject, and other value-added services, your firm will benefit from. Some of these services include webinars and contract review. If you are not getting this from your current carrier, you should ask your agent or broker why. We work with a lot of engineers when it comes to Business Insurance and would be happy to help with your needs. Be sure to read Insurance for Engineers for more information related to this subject. 

​Always remember, failing to plan is planning to fail. And hope is not a plan. 

Jason Matison
Commercial Insurance Agent
Austin, Texas
0 Comments



Leave a Reply.

    Categories

    All
    Bailee Insurance
    Builders Risk Insurance
    Business Insurance
    Business Insurance
    Coinsurance
    Commercial Property
    Cyber Insurance
    Data Breach Insurance
    D&O Insurance
    Employment Practices Liability (EPL)
    First Dollar Defense
    Flood Insurance
    Foreign Insurance Policy
    General Liability
    General Liability Vs Professional Liability
    Hired & Non-Owned Auto Liability
    Inland Marine Insurance
    Inland Marine Insurance
    Insurance For Engineers
    Life Insurance
    Liquor Liability
    Medical Payments
    Product Liability
    Professional Liability
    Professional Liability For Architects
    Restaurant Insurance
    Umbrella Insurance
    Workers Comp

    Archives

    November 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    November 2021
    August 2021
    June 2021
    December 2020
    June 2020
    March 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    July 2019
    June 2019
    May 2019
    April 2019
    February 2019
    January 2019
    October 2018
    July 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    August 2017
    June 2017
    May 2017
    March 2017
    February 2017
    January 2017
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    April 2015
    March 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    November 2012
    April 2012

NOTICE: This blog and website are made available by the publisher for informational purposes only. It is not to be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher. ​
Photos used under Creative Commons from ccPixs.com, ctj71081, Joe The Goat Farmer, NordicPixels, Alan Cleaver, Seattle Municipal Archives
  • Home
  • About Us
    • Contact Us
    • Contact Form
  • Blog
  • Restaurant Insurance
  • Business Insurance
    • Business Insurance Basics >
      • A&E Insurance
    • Business Insurance Costs >
      • Application
  • Certificates
  • FAQ
    • Privacy Policy