For the past three years, employers have reaped the benefits of workers' compensation legislation passed in 2004 (Assembly Bill 227 and Senate Bill 228) as well as that passed in 2005 (SB 899). The result of this legislation has been a dramatic drop in overall loss costs and, consequently, in workers' compensation insurance premiums. In some class codes, employers have realized premium reductions up to 70 percent of what they were just four years ago.
Today, litigation is more complex than ever. An attorney is ethically bound to provide the best representation for the client. In order to do so, the attorney must use all the resources available, and an expert is certainly one of the most beneficial.
Insurance is a risk transference tool. To get value out of your insurance purchases, you must know your risk exposure, decide what risks to transfer and, lastly, know that your insurance covers the risk.
As development in the United States continues to push out into wilderness, hillsides, floodplains and other more challenging areas, the risk of catastrophic loss of life and property from natural disasters will grow exponentially. The wildfires that hit Southern California in fall 2007 are a reminder of how devastating these natural disasters can be on urban fringe development. Although the wildfires were devastating, certain communities within the burn areas avoided tragedy due in large part to having previously integrated fire preventative measures into the planning, construction and landscape maintenance of those communities.
Passage of Senate Bill 800 and Assembly Bill 758 -- the former offering litigation alternatives for owners and builders, and the latter altering the scope of indemnity faced by subcontractors -- made the necessity of contractor insurance a little less painful.