Rob Foote and Brian Pratt are roofing industry insurance advisors with Roofing Risk Advisors LLC, a division of Frank H. Furman Inc. They consult with 92 roofing professionals throughout the country and develop cost-effective insurance and risk management programs. At Best of Success, they demonstrated how managing risk has a direct impact on the roofing contractor’s bottom line in a session titled “Safety as a Profit Center.”
Foote and Pratt shared several proven strategies that contractors can utilize to manage costs associated with insurance, including workers’ compensation and automotive/fleet coverage. “A culture of safety will differentiate your company from your peers,” said Foote. “An effective risk management strategy will reduce insurance cost, which is the third largest expense for most roofing professionals.”