Calfornia Contractors-Check out our first video on Insurance May 2, 2010
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Orange County, CA Insurance Agent Helps a Contractor Land a Job May 2, 2010
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A client of Goodman Insurance who happened to be a residential painters was unable to get a bid opportunity from a regional builder. Goodman Insurance leveraged our relationship with their purchasing department and put together a package that could demonstrate that our client not only would be able to provide better coverage for the work they performed but that our client had a clean loss history. Our client was able to get on the bid list and was awarded the $100,000 project.
Goodman Insurance can do the same for your business! We only represent contractors so we have access to the best rates and coverages. Contact us today to review your workmans comp, general liability, commercial auto, property or umbrella insurance today. Click here for a no obligation quote or call us at 888-606-2406
California Self Insured Contractors Know the Hidden Dangers April 29, 2010
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The Contractors Access Program of California (CAP), a self insured group of contractors, is scheduled to be seized by California’s Office of Self Insurance Plans. Some say this take over could be as early as this week.
Let me first explain a little about self insured groups. The members of self insured groups are jointly and severally liable for each other’s claims and for the claims of the group. In other words rather than being insured by a carrier the group all pays in and protects each other. The seized group will have some significant challenges in the coming months. The 200 plus in this group will be liable for a reserves shortfall through a special assessment of the members for as much as $12M to $60M. Past members are on the hook for the years during which they participated.
The Office of Self-Insured Plans, (OSIP) which has consistently fought against financial transparency for SIGs, would not comment or give advanced notice regarding any enforcement action it might be taking.
If you are a contracted interested in a self insuring program or are in a similar program and want some advice call us today. We are more than happy to answer any questions for contractors in Orange County, San Diego and Northern California! You can reach us at 888-606-2406 or visit our virtual insurance agency by clicking here.
California Roofers Turn to Goodman Insurance April 27, 2010
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If you are a California Roofer, whether in Orange County or San Fransisco, you know that your workers’ compensation costs are a profitability killer. Roofers in California pay the highest rates for workers’ compensation than any other state!
Most roofers have had ONE option of obtaining insurance coverage: The State Fund – a carrier of last resort. The lack of competition in this marketplace has let to extraordinarily high rates that are facing increases as 2010 progresses. Finally, for those with approximately $200,000 in field payroll or higher, an opportunity has presented itself.
Estimated Rates:
5552: Roofers < $23/hr $26.28
5553: Roofers > $23/hr $13.45
For example: One roofer with 8 employees was paying $70,000 in annual workers’ compensation premium through the State Fund. With a little over a week before his renewal, Goodman Insurance saved a Seaside, CA Roofer over $30,000 and kept his business afloat.
Don’t auto-renew with the State Fund. Give us a call today (888) 606-2406 or take our 180 second tour on our workers’ compensation program!
At Goodman Insurance Services, we are The Contractor Specialists.
