I was recently chatting with a restorer and trying to explain why his insurance needed to be customized to cover the risks he faced in doing work assigned under master services agreements.
The Florida Senate approved an overhaul of the insurance practice known as assignment of benefits, or AOB, and Gov. Ron DeSantis issued a statement saying he will sign it. AOB has been a highly controversial issue in recent years, with insurers arguing that litigation and fraud involving the practice are driving up property insurance premiums.
GC3’s penchant for expertise and innovation expanded in 2019 with the hiring of Dave Bell and Daniel Lewis. Their hires signal a dynamic approach to company growth and enhanced industry expertise.
J.S. Held, a global consulting firm, announced today that it has acquired Veritox, Inc. and GT Engineering, a division of Veritox. Veritox (VTOX), a toxicology and industrial hygiene consulting firm with offices in Washington, Texas, South Carolina, and Florida, provides services in exposure assessment, industrial hygiene, human and environmental toxicology, forensic toxicology, and risk assessment.
Managing the risks associated with master services agreements with insurance companies for remediation services requires attention to detail when reviewing the contract. If a restorer misses a detail in the contract, the indemnity agreement in these contracts can leave the restorer in the position of being the insurance company of a big insurance company.
The 2017 Atlantic hurricane season was remarkably destructive, with Hurricanes Harvey, Irma and Maria significantly impacting parts of Texas, Florida and the Caribbean.
When I was 18, I got my first car: a 1968 Chevelle Malibu, a classic muscle car with a big throaty engine. I painted it black, put on racing wheels, big wide tires and Gabriel Hijackers. I got so many speeding tickets, my home state of California sent me a letter ordering me to appear at a hearing and politely notifying me that my right to operate a motor vehicle was going to be revoked for six months.
Almost one year after my working career in restoration started, I was baptized by accepting a request to look at a boat fire. I had absolutely no knowledge of marine vessels, how they were constructed or what the component materials were, let alone how they react when they burn.
Restoration firms providing biohazard cleaning services need special training and insurance coverage to manage the additional risks associated in performing this type of work.
