Insurance Screening / Prequalification 411
"Slot Machine Process"
Insurance Compliance Determined:
After the bid selected...
After the company is engaged...
After a master is issued...
After a subcontract is issued...
PRECONSTRUCTION PHASE PROCESS: NEW VENDOR/SUBCONTRACTOR
MID-PROJECT PROCESS: NEW VENDOR/SUBCONTRACTOR
Insurance is the last item obtained...
Insurance Compliance (New Company) = Slot Machine
"Rapid Insurance Screening Process"
NOTE: Step 2 can also be conducted internally if company employees are trained in using the NCCI database.
If NCCI/WC database screening is done internally, full insurance compliance review can be conducted by a 3rd party after a bid is selected with the assumption that the company at least maintains an active work comp policy.
Insurance Screening Example: DPR Construction
2016 ENR Ranking: 20
Prequalification Insurance Documents
- Sample insurance COI w/ endts
- EMR verification (3 years)
- Signed W9