What is Risk Rocket?
Risk Rocket is a proprietary insurance verification and analysis system designed for General Contractors, Developers and Real Estate Owners that DO NOT want to rely solely on the Certificates of Insurance their Sub Contractors or Contractors provide. This system verifies that there will be a pool of capital available for them if there is an accident or event consistent with the Indemnity Agreement signed in the outset obligating certain coverages. The Certificate Insurance Management system reports to the management of our construction firms how closely the sub contractors insurance coverage matches the requirements of the Master Sub Agreements they have signed with our General Contractor, Developer, and Real Estate clients.
The Impact On Your Business – You Can’t Manage What You Don’t Know
Certificates of Insurance do not confer coverage, only insurance policies do. Without reading the sub contractors insurance policy you have absolutely no idea what coverage if any will be afforded to your project. If the subs policy will not pick up coverage during an event, then it falls to your insurance policy, having a potential significant impact on your future insurance costs, net income loss, and ultimately your firms profitability.
CONTRACT REVIEW : In order to review potential new contracts you are bidding on, or to evaluate contracts your are about to start please complete the following form and attach the insurance requirements submitted to you by the G.C. or the Owner.
Best practice construction companies understand it is far more valuable to vet contracts up front while they are still negotiable than to execute the contract and hope you can modify it on the back end, naturally at a cost.