New York is notably considered a concrete jungle. And in a city that is continually changing and acclimating to the needs of its residents, New York is always in construction. Caution signs are plastered throughout and large cranes are always in plain sight.
Trailing behind California and Florida, New York ranks third in states with the most construction companies. With nearly 43,000 construction companies in the state alone, The state of New York is held accountable for the thousands upon thousands of carpenters, electricians, and plumbers roaming around the ill equipped uneven streets of New York.
According to the Bureau of Labor Statistics, the construction industry accounts for over 720 fatal work injuries; that is approximately 8.9 deaths per 100,000 full-time workers. New York construction companies need to incorporate and prioritize safety management above all else. A positive safety culture environment is proven to be significantly beneficial. In addition, effective safety programs improves a workers overall health and well-being, avoids potential business disruption and reduces overhead cost of insurance payments and hidden costs (e.g. employee replacement costs and OSHA citations).
According to McGraw Hill’s report entitled Safety Management in the Construction Industry, strong safety management programs positively impacts a company by;
- Reducing injury rate (71% of respondents)
- Improving company reputation (82% of respondents)
- Increasing the ability to contract new work (66% of respondents)
- Improving project quality (66% of respondents)
- Improving project ROI (51% of respondents)
- Decreasing schedules and budgets (43% and 39% of respondents)
Over the past 20 years, The Rubin Group worked with many New York, as well as nationwide, contracting firms in their quest for strong New York contractor or construction insurance. That experience has greatly enhanced our knowledge of the construction industry and its insurance needs. We can set you up with plans that offer coverage that only the large contracting firms could afford a few years ago. Let us know your special needs, and our knowledgeable, highly trained insurance professionals will help you. Contact us (877) 806-7239