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Softening the Insurance Crunch by Richard E. Schmidt Look, no one likes having to pay for insurance, and I am no exception (insurance consultants pay premiums, too). But if you intend to lead a prudent financial life as a contractor in the field, you must come to grips with this beast. Otherwise, insurance costs can eat you alive. For example, say you bid a job based on such-and-such an insurance rate. If your renewal policy comes in at triple the cost while you are still committed to the job you bid at the old rates, it can be very hazardous to your company's economic health. But good management of your insurance program can help. There are several ways to reduce insurance