Insurance/Legal Matters in Restoration

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The restoration industry provides vital services to our country in many of its times of deepest need and crisis. In return, our economy provides an opportunity for these restorers to capture enormous wealth.

No restoration contractor would consider going without their General Liability or Property insurance, yet studies have shown you are more likely to have an Employment Practices Liability (EPL) claim than either of those.

For anyone who has experienced the unthinkable, 2017 will forever be known for one powerful, yet devastating hashtag: #MeToo. So much so that TIME magazine named the social movement it’s Person of the Year. Seemingly overnight reports of inappropriate behaviors of high-profile celebrities, famous politicians, and influential business owners disgraced their careers while victims found strength through a burgeoning, unified voice.

In December, you read about six factors to consider to be sure you get paid for commercial category 3 water jobs. It was part of an ongoing conversation about a shift in coverage on these claims.

Mechanic’s liens are unquestionably the most powerful, and most poorly-understood collections weapons available to contractors. But like any weapon, they are dangerous, and can backfire on the unwary and the inexperienced.

According to the IRS, two-thirds of all businesses fail in their first five years. One of the major reasons this happens is not from a lack of business, but from a lack of cash. 

Three quarters of 2017 are in the books. The final quarter is when you should be focusing on your plan for the coming year. If you didn’t already start in October, now is the time.