PHILADELPHIA--(BUSINESS WIRE)--ACE Group today announced the release of a white paper discussing strategies for managing risk in the construction industry, offered by ESIS, Inc., a risk management services company owned by ACE Group. The report reviews the importance of building a strong safety culture, and outlines the components of an effective construction risk management program.
“Building an Effective Strategy for Managing Construction Risk” was co-authored by David Landrum, Vice President and ESIS National Construction Practice Leader; Kevin Crossan, Assistant Vice President, ESIS National Construction Practice; and Allen Abrahamsen, Assistant Vice President, ESIS Health, Safety and Environmental.
The paper explains the need for a robust risk management strategy administered by safety and risk management experts who have a deep understanding of construction risk. “In a competitive and high-risk industry like construction, a comprehensive risk management strategy is indispensable,” said Mr. Landrum. “An investment in safety and a proactive risk management strategy provide real returns in terms of fewer accidents, lower costs, higher quality and a stronger reputation.”
The goal is always to keep every worker safe. “Safety should form an integral part of a company’s corporate culture, and responsibility and accountability for safety should rest with every level of management,” said Mr. Abrahamsen. “Safety should be part of every project, from planning through completion, and incorporate elements such as training, fall management, job hazard analysis and environmental concerns.”
Even the most safety-conscious company may experience an accident, so a comprehensive strategy to manage claims and improve outcomes is essential. “An effective risk management strategy in the construction industry needs to include advanced claims reporting and handling capabilities, medical and pharmacy cost management, return-to-work strategies and analytic capabilities that pave the way for continual improvements. This comprehensive approach is essential for long-term success,” added Mr. Crossan.
To access the report, please click here. The material presented in this report is not intended to provide legal or other expert advice. It is presented as informational only. Readers should consult legal counsel or other experts, as applicable, with any specific questions they may have.
ESIS®, Inc. (ESIS) is part of ACE Group, providing claim and risk management services to a wide variety of commercial clients. Insurance is provided by insurers within ACE Group. The product information contained herein is a summary only. ESIS Health, Safety, and Environmental Services (ESIS HSE) may be sold directly to ESIS’ clients or as part of insurance underwriting. Risk control activities conducted on behalf of the insurer are not intended as a direct benefit or service to ACE insureds. Time and expense rates apply. For more information about ESIS, please visit www.esis.com.
ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at www.acegroup.com.