Contractors & Insurance
By Kenneth S. Grossbart, Abdulaziz, Grossbart & Rudman
Insurance is defined as coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril; a means of guaranteeing protection or safety. Some insurance is optional and some is required. Contractors have many options and we thought that we would take the time to highlight some of the insurance that is required and other available options in the construction industry - keep in mind this does not cover everything.