12 Mar How to Keep your Elevator Distribution and Installation Business From Crashing
According to the Bureau of Labor Statistics,* “Employment of elevator installers and repairers is projected to grow 13 percent from 2014 to 2024, faster than the average for all occupations.” While this is good news for the job market, there is a great deal to be concerned about.
Elevator companies and their staff face considerable risk on the job — from exposure to high voltages and hazardous materials, trips and falls, asbestos, working at high elevations, and injuries from falling objects and tools, to name but a few.
The U.S. Bureau of Labor revealed elevator installers and repairers as the sixth most dangerous profession in the construction field. In fact, elevator installers and repairers suffered the highest numbers of deaths in work on or near elevators, far above laborers, supervisors, ironworkers, and other professions. The four leading causes of worker fatality in 2013 were falls (39.6%); struck by an object (10.3%); electrocutions (8.9%); and caught in between (2.6%).**
The numbers are sobering: during a 10-year period, fatal accidents involving elevators included 93 deaths installing or repairing an elevator; 28 deaths working in the elevator shaft or car; and 52 deaths working next to the elevator.† Without a doubt, elevator companies, their employees, and the public are at considerable and constant risk of injury or worse.
Is your company, then, an easy target for litigation? How can you be proactive and ensure you don’t fall victim to costly lawsuits? Specialty liability insurance from Evolution Insurance Brokers (EIB) is your best defense. EIB is a full-service excess and surplus lines brokerage. Our partnership approach takes into account all factors including the origin of the risk, previous losses, other historical and Claims data to deliver the best possible solutions for coverage.