Insurance Companies and GCs
Yes, they are required to pay normal cost of doing business for the contractor (Job related or GC) according to the Texas Department of Insurance. They only have to pay the amount that was agreed on at the beginning of the contract, but should include OHP. Yes, there are plenty of laws and regulations that address overhead and profit. Contractors charge it and insurance companies pay it. That's the nature of the beast. Also, insurances charge insureds in their policies to cover it and keeping it is an illegal windfall. The insurance company that doesn't pay it is not only an exception to the rule but runs the risk of breach of contract and bad faith lawsuits as well as sanctions by insurance departments. There has been much litigation against insurance companies that mess around with overhead and profit, including several class action lawsuits against major insurance companies.
One may contact a variety of companies depending on the insurance required. For health insurance consider companies such as Bupa and PruHealth. For automobile insurance consider companies such as Tesco or Churchill. For buildings and contents insurance one may consider companies such as Royal Bank of Scotland and Axa. One may also visit the 'MoneySupermarket' website to find further information on varieties of insurance and the best companies to visit for quotations.
Legal requirements would be dependent on you local regulations, so you'll need to check with your local authority to determine if it is required. Bear in mind though that most prudent companies and individuals would not hire a contractor who can not insure his activities. Uninsured contractors tend not to grow their business well and are not considered serious contenders for the more lucrative and profitable contracts. Bids are often ignored when submitted by an uninsured contractor.
Auto Insurance quote is used to know the rates and coverage of vehicle insurance from insurance companies after providing required details. Today many auto insurance companies provides online insurance quote form in their website though which any one who needs auto insurance can get quote, almost free of cost.
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