Risk compliance is an essential component of successful construction projects. “It’s right up there with safety, if you ask me,” said Controller Matt Hott. “It’s a big part of our financial safety plan.”
The risk compliance coordinator ensures all insurance documents relating to our projects are up-to-date, accurate and prepared on time. This goes for Primus insurance documents as well as monitoring our subcontractor insurance documents for the same traits. It’s a big job that requires a full-time person.
Enter Brandon Nicholson. Brandon has been a licensed insurance agent since 2002 and has worked for National Home Builders for many years, a role that aligns closely with this one.
“I was an insurance agent with All State for a year, but this job is more in my wheelhouse,” he said. “It’s like coming home.”
Brandon’s responsibilities include:
- Working with our broker on Primus insurance policies and renewals
- Reviewing subcontractor certificates of insurance and endorsement to make sure they meet the contract’s insurance requirements
- Providing regular subcontractor compliance updates to our project teams
- Serving as a liaison between the bonding and insurance company for bonding and builders risk requirements
The subcontractor component is crucial because it protects Primus from losses that would arise from subcontractor claims. It is also time consuming – our larger projects have 50 or more subs, and it must be completed for each project.
“If Primus is drawn into a claim arising out of subcontractor work, I’m glad I’m here to protect the company’s interests,” Brandon said.