Broke: The Broken Contractor's Insurance System and How to Fix It

by Robert Phelan

The system is Construction CEOs are buying contractor's insurance based on the lowest premium, and the ""savings"" are costing them a up to $20 lost for every claim dollar spent. The status quo can break a growing company, because brokers get paid their commission, whether or not they help prevent claims, manage risks or improves safety -- and in most cases, they don't. Contractors can go driven into bankruptcy by hidden exposures and insurance loopholes that leave them blind-sided to their biggest risks. Construction Risk Advisor Robert Phelan deconstructs the broken system with common-sense ideas to fix ways to help prevent the high cost of low-priced coverage and keep contractors from the dangers that can bring down their business.

120 pages, Paperback

First published January 1, 2009