Catlin’s underwriters focus on medium to large project owners and developers who are looking for a way to proactively manage the professional liability exposures of their contracted construction managers, architects and engineers. Our policy provides coverage in the event that their construction manager, architects and engineers professional as well as pollution insurances are not adequate or become unavailable for any reason.
Target Market
- Preferably greater than $50mm in hard construction costs.
- Targeted classes of business are: commercial, institutional projects, schools and colleges, hospitals, air port expansions or renovations, rail, light rail, roads/highway transpor tation or other civil projects, prisons, casinos hotels and resorts, residential/commercial grade-construction.
- Excluded: power/process, stadiums or major sports venues, heavy industrial, fast track or untested technologies.
Program Parameters
- Minimum premium of $50,000 to apply.
- Covers the duration of the project with an Extended Reporting Period (ERP) included.
- Provides defense of third party claims against the owner, subject to specified deductible.
- Difference in Conditions (DIC) responds to losses in the event that the policy is broader than the underlying policy.
Limits
- $10,000,000 per project/aggregate for professional and pollution coverages
- Mold and fungus coverage limit is subject to underwriting considerations
Product Available
- Project specific Professional Liability coverage
- Difference In Conditions (DIC) coverage
- Broad Professional Services definition
- No self-insured retention for target customer and traditional delivery system
- Broadest base policy form from exclusionary perspective
- Broadest Excess Contractors Pollution (CPL) coverage
- No mold and fungus exclusions on base policy
- Affirmative position on coverage if there is no underlying insurance
Products are underwritten through Catlin Insurance Company, Catlin Specialty Insurance Company, Catlin Insurance Company UK and the Catlin Syndicate at Lloyds (2003). All Catlin companies have been assigned a Best rating of “A” (excellent).
Ray Bustamante | 908.918.2303 | ray.bustamante@catlin.com
Chris McQueen | 404.443.5267 | chris.mcqueen@catlin.com
Peter Brooks | 303.807.5017 | peter.brooks@catlin.com