Beazley launches tailored professional liability cover for US construction contractors
18 October 2017 - 11:00PM
Specialist insurer Beazley has launched ContractorPro, offering
tailored professional liability coverage for large-sized US
construction contractors with annual turnover typically in excess
of $100million.
In addition to covering first and third party professional
liability and pollution risks, ContractorPro includes protection in
the event of a sub-contractor’s professional liability or
contractors’ pollution liability insurance being exhausted or not
responding to the contractor’s own claim.
Cover is written on a surplus lines basis, enabling clients to
benefit from the Lloyd’s chain of security, with limits up to
$25million available.
Michael Attwell, architects, engineers & construction
underwriter at Beazley, says: “Construction contractors have
distinct professional liability requirements. We’ve used our
30 years’ experience of insuring some of the world’s largest and
most complex construction risks to develop ContractorPro.
It’s a further enhancement to our suite of products for large
construction contractors operating in fields as diverse as civil
engineering, power generation and telecommunications. We have
a flexible approach to doing business and can adapt cover so that
it meets the unique needs of individual companies, whether their
risks are in North America or overseas.”
ContractorPro is a complementary offering to DevelopPro,
Beazley’s professional liability offering for developers and owners
of construction projects. Beazley also provides cover to firms
across the full spectrum of the architects & engineers design
sector, from sole proprietors to global firms including nearly half
of the top 50 US design firms as ranked by Engineering
News-Record.
-ends-
Note to editors:
Beazley plc is the parent company of specialist insurance
businesses with operations in Europe, the US, Canada, Latin
America, Asia, the Middle East and Australia. Beazley manages six
Lloyd’s syndicates and, in 2016, underwrote gross premiums
worldwide of $2,195.6 million. All Lloyd’s syndicates are rated A
by A.M. Best.
Beazley’s underwriters in the United States focus on writing a
range of specialist insurance products. In the admitted market,
coverage is provided by Beazley Insurance Company, Inc., an A.M.
Best A rated carrier licensed in all 50 states. In the surplus
lines market, coverage is provided by the Beazley syndicates at
Lloyd’s.
Beazley is a market leader in many of its chosen lines,
which include professional indemnity, property, marine,
reinsurance, accident and life, and political risks and contingency
business.
For more information please go to: www.beazley.com
BZPR_10_18_17
Eleanor Lewis
Beazley Group
+44 (0)20 7667 0538
eleanor.lewis@beazley.com
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