Contractors liability insurance
Contractors liability means if the contractor endorses any work to the workmen and during the working, if any things happen to the worker, it is the liability of contractor to fulfill the damages happened. Hence in order to escape the unforeseen damages, the contractor required to get insurance which called contractor liability insurance. So the contractual liability insurance would protect the contractor from any loss in connection with the work.
In order to escape the contractor has to take the insurance from an insurance company which covers all risks. The liability may arose relating to workmen or relating to material i.e. Workmen, hired equipment, plants, tools, or public liability.
Section 240 and 241 of the New York State Labor law establish that contractors are liable for virtually any gravity related injuries suffered by a worker on a job site. The law says that this liability is "absolute" and that a worker\'s responsibility shall not be considered when determining fault. It does not matter that the employee ignored the company\'s safety policy or directors from a supervisor. The contractor or owner is liable even if the employee is intoxicated, drug induced or in the process of committing a crime when the injury occurred. It is inevitable to the contractual liability insurance to accept the liability when there is damage irrespective of the action of workmen.
Reduction of claims
Mere taking of contractual liability insurance policy is not enough but to reduce the claims is also important, hence the following precaution to be taken to reduce or minimize the liability of contractor.
How to take insurance
In order to escape the liability, the contractor should contractual liability insurance policy and while taking the same the following documents needed:
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