Beazley launches tailored professional liability cover for US construction contractors
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.