Ironshore’s newly revised Designers and Contractors Professional & Pollution Liability form provides claims-made third-party professional liability protection against damages related to contractors’ negligence in the performance of professional services.
PRODUCT: Designers and Contractors Professional & Pollution Liability Insurance
COMPANIES: Ironshore Specialty Insurance Company
BEST RATING: Ironshore’s group of companies is rated A (Excellent).
AVAILABILITY: Coverage is available on an open-brokerage basis.
FOCUS: Ironshore recently enhanced professional and pollution liability coverage for general contractors or trade subcontractors with in-house or subcontracted design and build exposures.
“Ironshore continually reviews our leading industry products designed to address the dynamic challenges facing the construction marketplace,” says Ben Beauvais, executive vice president of Casualty & Construction at Ironshore. “Our enhanced policy form reflects our continued recognition of the contractual demands of our clients in the expanding world of design and build project delivery.”
COVERAGE DETAILS: Ironshore’s newly revised Designers and Contractors Professional & Pollution Liability form provides claims-made third-party professional liability protection against damages related to contractors’ negligence in the performance of professional services.
The specialty program offers contractors professional liability on a claims-made basis with contractors pollution liability on an occurrence basis within its combination policy.
Rectification costs for design defects and protective indemnity for subconsultant design professionals’ negligence are also available in the coverage. The contractors pollution liability coverage part responds to jobsite incidents and transportation losses that occur during the policy period, while the non-owned disposal site and insured’s site coverages continue to be underwritten on a claims-made basis.
The enhancements aim to “complement the insurance needs for contractors in a wide array of building trades—both vertical and horizontal construction exposures,” Beauvais says. “With over 70 cumulative years in this insurance sector, our company can deliver all product lines for contractors.”
Still in effect is the pollution mitigation reimbursement extension as well as coverage for the costs of disciplinary proceedings and mediation incentive actions. Policy limits are available up to $10 million for primary and $25 million for excess coverage.
Annual policies for standalone professional or pollution liability coverages are also available from Ironshore’s Designers & Contractors Professional Liability insurance and Environmental groups, respectively. Finally, Ironshore can offer a suite of accompanying risk management services for policyholders, implemented by a team of specialists.
UNDERWRITING: Requirements include a professional liability application and currently valued loss runs, if the insured has current coverage. Individual project rating is based on type of projects and breakdown of design and build exposure versus general construction revenue.
MINIMUM PREMIUM: $10,000 for $1-million limits.
TARGET: Construction and specialty brokers with professional liability expertise who deal with general contractors or trade subcontractors with design and build exposures.
COVERAGE TERRITORY: All 50 U.S. states.
COVERAGE AVAILABILITY: All 50 U.S. states.
CONTACT: Ben Beauvais, executive vice president, Casualty & Construction, Ironshore Insurance; 617-391-5680.
Will Jones is IA assistant editor.
