The Parts Of A Strong Risk Foundation
As qualified business consultants, our professionals are constantly working with construction companies to develop business practices that will help to reduce financial risk. Our experts spend a lot of time evaluating the business practices of our construction partners and developing the best possible ways for them to make sure that significant financial events do not cause those contractors to go out of business. One of the first things we discuss with our clients is the need for a strong risk foundation.
What Is A Risk Foundation?
A risk foundation is the combination of policies and partners a construction company has in place that help to protect the company from financial problems. If your construction company is missing any of the essential parts of a strong risk foundation, then you are opening yourself up to problems that can result from the risks your company and employees are exposed to every day.
A Good Risk Mitigation Company
We are proud to be the risk mitigation partner for a long list of construction companies that understand the importance of being prepared. We give practical business advice to help our clients avoid risk, and then we put together protection plans that will offer financial support if something goes wrong. Without a good risk mitigation partner, your company is opening itself up to thousands of potential areas of risk, and any one area could bankrupt your company.
A Good Safety Policy
A good safety policy is something that is created based on a contractor’s experience, advice from a mitigation partner, and the state and federal laws regarding construction safety. A good safety policy is something that changes based on the new experiences or needs of the company, and any changes in construction law.
We will review your safety policy with you on a regular basis to make sure that it is as comprehensive as it can be. We will suggest changes, and give you the information you need to keep everyone safe.
A Good Subcontractor Agreement
Any experienced contractor knows that if a subcontractor makes an error on a job site, then the general contractor could be liable for that mistake. Your subcontractor agreement includes requesting the subcontractor’s safety policies, reviewing the subcontractor’s past job record, and having the subcontractor sign an agreement that absolves the general contractor of any liability. A good subcontractor agreement makes sure that all of the necessary insurance policies are in place, and that the general contractors is protected from risk.
A Good Attorney
Sometimes things happen in construction and an attorney has to get involved. As your risk mitigation partner, we will work with your attorney to make sure that all of your risk protection vehicles are utilized to prevent you from experiencing financial collapse. A good attorney is just as important in a strong risk foundation as a good risk mitigation partner.
Your risk foundation works together to protect your company from economic disaster. We will help you set up a risk foundation that is constantly working behind the scenes to cover every element of risk your company experiences throughout a work day. If something does go wrong, then we will make sure that your risk foundation springs into action to make sure that your company doesn’t crumble under the weight of financial disaster.