Manufacturers and Insurance NM

Manufacturers in New Mexico provide products for many different types of businesses all over the US and as such, must deal with issues big and small, from product recalls and equipment breakdown, to customer claims of injury or illness due to products sold to them by these giants of industry. As a manufacturer, you need to know you have purchased the NM Insurance coverage you’ll want and desire to help with all of the challenges you’ll routinely face as a producer of products or merchandise.

Business property insurance for the backbone of your company

One thing you’ll need at the outset is business property insurance coverage for your manufacturing company regardless of any other coverage you might have in place. Depending on the location of your enterprise, local weather conditions could wreak havoc on your operations. Whether it’s a windstorm, fire or other unexpected event, you’re going to need help to protect your building location, inventory, and valuable manufacturing equipment.

Business liability insurance for when things go wrong

Serious or life-threatening accidents can happen suddenly and unexpectedly and they can also be financially devastating for any manufacturing business. Having business liability insurance can help you protect your business in the event that a customer is injured due to a product or service you provided to them. Even an injury caused by the packaging will be covered under this policy.

Workers comp for your faithful employees

One of the key expenses for any business is covering employee-related medical costs as a result of a job-related incident. In most states, manufacturing companies are required by law to carry workers’ comp insurance. Without your employees, most of who are dedicated to ensuring that products are assembled and delivered on time, your business could suffer tremendously.

So you certainly wouldn’t want them to suffer unnecessarily due to an injury they experienced while at work? Your insurance can quickly deliver some much-needed benefits for work-related injuries and illnesses sustained by your employees.

Running a business takes a lot of hard work. From the start of the day, until the clock says it’s time to go home, you always hope that everything will run smoothly and efficiently. But this simply isn’t always the case, which is why your Insurance NM is designed for all of your issues and concerns, which makes them the logical solution.

Brokers Must Examine Construction Liability Concerns

As an insurance broker for those in the construction business, you know how serious the concerns are for contractors, subcontractors, lenders and owners. Their success often largely hinges on their ability to properly manage risk. Without good risk management planning, things can quickly go awry.

Applying sound business and construction practices, which includes proper preconstruction planning, use of experienced personnel, and stringent safety programs, are all very important aspects of this often hazardous work, but the most important project risk allocation tools are the contracts governing the various parties’ rights and obligations.

Within those contracts, risk is primarily allocated through indemnity and insurance requirement provisions. Proper risk management practices, however, are not merely limited to construction management liability risk allocations. Equally important is careful contract preparation and review. Before entering into your next construction contract, you may want to consider these important risk management concepts.

Some vital risk management planning

Having additional insured status adds a layer of protection to your client’s indemnity requirements. A key advantage, of course, is that the insurer has an up-front duty to defend claims made against additional insureds, whereas most indemnity provisions require only that the indemnitee provide reimbursement of any defense costs.

As a broker, you should review the entire insurance program to prevent gaps in coverage achat cialis 10mg. You may need to amend one or more of your client’s policies through endorsements, or have them purchase additional coverage, to close these gaps.

While is it advisable to clearly address all anticipated risks in the contract, it serves no useful purpose to force an onerous, one-sided contract on subcontractors. It is probably best to have your client foster a collaborative project environment and avoid a more adversarial relationship between the contracting parties.

Basically speaking, risks should be transferred to those in the best position to control them. Owners and contractors should anticipate potential project risks and determine whether it is more advantageous to retain or transfer them.

Owners, especially those not familiar with the nuances of the construction industry, should strive to limit the number of parties with whom they contract. They should engage a project architect, and then place responsibility for engagement and oversight of all other design professionals on the architect, who must be capable enough to oversee these consultants’ services.

Brokers that understand construction management liability are better equipped to provide solutions and risk aversion techniques that will best serve those that they provide their services to.

Pay Attention to Signs That Point to Lacking Construction Management

Despite the acknowledgement that the type of heavy building involved in constructing major sports arenas has associated risks, it was a horrific accident, everyone concluded. Months later, one eyewitness shared that he still had nightmares about what he had seen: two workers who had been up on the roof securing materials in place when something went terribly wrong. Both workers ended up tumbling more than 300 feet to ground below, where autopsies determined they died on impact. Investigators pored over the worksite to reconstruct exactly what led up to the tragic accident. However, several traumatized coworkers admitted it didn’t take experts to anticipate that construction management was at risk for liability associated with several lapses in protocol–warning signs that, in hindsight, should have been heeded immediately.

What the managers had ignored

Investigators would learn that several problems were present at the time of the accident:

  • Supervisors were unaware of the exact location where the employees were working
  • The two men were working without a supervisor even being in the vicinity
  • The workers were not wearing the safety harnesses that are required by anyone working in certain elevated areas
  • Nine worksite citations had already been issued for serious violations during six inspections in recent years, totaling thousands of dollars in fines

Most of those violations were for failure to use safety harnesses or guardrails to offer protection from falls, in some cases in elevations or hoist areas of 6 to 10 feet or more

A tragic day

The firm’s owner expressed his condolences to the victims’ families, calling the incident the “most tragic day of his life.” Regardless of their sincerity, the fact remains that the men are dead, their families are left without husbands and fathers, and the firm ended up going out of business.

This industry claims lives: incidents of workers killed in an elevator shaft accident, or when heavy building materials shifts and falls on a worker, or someone steps in a hole, or off a girder several stories up. With so much on the line, construction management will always be at risk to a certain extent. That being said it is essential to purchase a comprehensive package of insurance coverages to offer as much protection as possible for the employer and employees alike.

Primary Concerns for a Construction Manager at Risk

The list of risks concerning construction management (CM) firms is far too long to cover in this article especially since, for example, if you ask a roomful of designers to define CM you’ll likely get a lot of different answers. The term generally relates to having a degree of responsibility for reviewing or overseeing construction, but CM services are often performed in different ways depending on the project and type of work involved.

Construction Manager at Risk is basically a way of saying that there are certain professional and contractor liabilities associated with these continuously evolving services. In this article we’ll take a look at ways of managing those risks.

The main responsibilities of the Construction Manager

The Constructor (CM) typically:

  • Holds all subcontracts for construction
  • Is responsible for tasks of management as well as construction
  • Takes responsibility for the entire construction project, from permits, to bids, and right through to the completion of the project
  • Makes promise to the owner of a guaranteed maximum price, and
  • Assumes the same risks as a general contractor, including safety on the jobsite


Most professional liability (PL) policies will cover claims arising from the professional services a design professional renders as a construction manager. However, most PL policies may not cover certain aspects of the construction risk, for example, faulty workmanship. Some policies may contain a general exclusion of coverage for claims arising out of services not “usual and customary” to the practice of architecture or engineering, or they may cover only that which is specified in the policy.

General risks to consider

Several areas of liability occur when providing CM services, such as in the case of design, because some construction managers conduct design reviews, meaning they may be subject to suits involving any design error. Construction managers may have exposure arising from the selection of construction materials as well. Risks may also include failure to identify long lead-time procurement items.

Jobsite safety violations are another big concern

Construction managers have substantially greater risk of being cited for jobsite safety violations by OSHA since they often assume responsibility for developing or reviewing jobsite safety programs or procedures of contractors, along with monitoring safety plans, training and other safety requirements. Construction management at risk can be a costly dilemma that should be approached with sound insurance alternatives to address any and all issues.