|[April 21, 2014]
New ACE White Paper Explores Best Practices for Managing Construction Risk
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
"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 though 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.
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