Hiring a Risk Management Consultant and Terrorism Endorsement Updates in Construction Risk Management
This release of Construction Risk Management
includes tips for hiring a risk
management consultant and updates to discussions of standard terrorism
endorsements (for commercial property, liability, workers compensation, and
auto insurance lines).
Hiring a Risk Management Consultant
Risk management consultants perform a number of services for organizations,
including feasibility studies and audits. Effective use of consultants can be a
fundamental part of a contractor's risk management strategy. "Hiring a Risk
Management Consultant" outlines how to get the most from your
consulting budget through effective hiring and utilization of consultants.
Terrorism Endorsements
Standard terrorism endorsements are available for use on commercial
property, commercial liability, and workers compensation policies that comply
with the requirements of the Terrorism Risk and Insurance Act (TRIA) as
reauthorized in the Terrorism Risk and Insurance Program Reauthorization Act of
2019. Because commercial auto is not covered by TRIA, insurers have more
flexibility for tailoring the scope of coverage offered for terrorism, and
standard
terrorism endorsements are available to help them do so.