What is a liability money trap? For what I am addressing here, it is a set of facts and circumstances that can lead to potential liability issues for restoration firms. Facts and circumstances have already set the trap for the unaware; below is some advice on how to not into the traps. 

Climate change strikes again with another polar vortex in the U.S., creating new sources of big dollar demand for the restoration industry. 

No industry is more affected by trends in the insurance business than a restoration firm. Insurance companies provide both a source of revenue to restoration firms in the form of claims payments and the insurance that enables companies to stay in business.

No industry is more affected by trends in the insurance business than a restoration firm. Insurance companies provide both a source of revenue to restoration firms in the form of claims payments and the insurance that enables companies to stay in business.

COVID-19 has put the cleaning, restoration, and insurance businesses on a wild ride. As you’ve heard me say time and time again, the vast majority of restorers are not adequately insured today for biohazards in general; coronavirus just made things worse.

The fortunes of every restoration firm are inextricably linked to the fortunes of insurance companies.

Over the last few years, contents cleaning and restoration has become an important service for restoration and remediation contractors to provide. Not only can it be profitable, it also offers contractors the opportunity to set themselves apart from their competitors.

As the green cleaning trend ramps up, I’m sure many of you are considering implementing this as a service offered by your company. It seems like a no-brainer. 

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.