Securing Your Business: Insurance Strategies with Phil Garcia

Richard Walsh and Phil Garcia tackle subcontractor issues, focusing on insurance and industry challenges. They highlight the importance of documentation, audits, and correct employee classification, delving into general liability and additional insured endorsements. The episode explores commercial insurance, trade variables, and the impact of business classification. Phil stresses life insurance for the aging trades workforce and the value of personal insurance. They discuss employee protection, business sustainability, and proper risk transfer. The need for due diligence in verifying subcontractor insurance, agreements, and work documentation is emphasized. Strategies for comparing insurance rates and reviewing systems are shared.

Speakers

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Richard Walsh

Host • 71%

Phil Garcia

Guest • 29%

Chapters

0:00	Introduction to subcontractor issues and guest Phil Garcia
1:10	Phil Garcia's insurance expertise and industry challenges
4:39	Documentation, audits, and employee classification in insurance
7:41	General liability and additional insured endorsements
10:56	Commercial insurance options and trade variables
14:44	Business classification and its impact on insurance
19:02	Life insurance and the aging workforce in trades
21:31	Selling personal insurance to tradespeople
25:02	Employee protection and business sustainability through insurance
27:17	Risk transfer and the benefits of proper insurance
30:06	Due diligence in verifying subcontractor insurance
32:42	Importance of subcontractor agreements and work documentation
35:08	Strategies for shopping and comparing insurance rates
41:16	Reviewing insurance and operational systems for success
42:33	Closing remarks and Phil Garcia's contact information

Transcript

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