Contract liability
Check additional insured status and completed operations against the work and contract requirements.
Construction
Construction Insurance.
Construction insurance should connect your contracts, subcontractors, equipment and work in progress before a loss tests who is responsible.
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What we look at.
Project property
Align builders risk with project values, insured parties, materials in transit and the completion date.
Equipment and crews
Keep equipment schedules, payroll, subcontractor records and work locations current.
General Liability
Review bodily injury, property damage, products or completed operations, and required additional insured endorsements.
Workers Comp
Review payroll, classifications, work locations and employer's liability. Statutory requirements vary by state and circumstances.
Commercial Auto
For business vehicle liability and, where selected, vehicle damage. Tools and cargo may need separate coverage.
Builder's Risk
Project property during construction. Confirm insured parties, values, covered causes, water restrictions and completion provisions.
Inland Marine
Equipment and tools away from the main premises. Review scheduled values, theft terms and rented equipment.
Contractors Pollution
Evaluate pollution liability from operations, including applicable exclusions, cleanup and transportation exposures.
Umbrella
Additional liability limits over scheduled underlying policies. Check exclusions, attachment and whether terms follow the primary coverage.
Bonds
Bid, performance and payment obligations where required. Surety underwriting considers financial capacity and the work undertaken.
Questions & answers
Good questions to ask.
Does a certificate make the project owner an additional insured?
A certificate is evidence of insurance; it does not create coverage. Additional insured status must come from the policy or an endorsement, with scope that matches the applicable requirement.
What does builders risk insurance address?
Builders risk addresses covered physical damage to project property during construction. Review the structure, materials, transit, insured parties and when coverage ends; contractor equipment may need separate treatment.
What should we collect from subcontractors?
Keep signed agreements, insurance certificates and relevant endorsements, along with a clear description of each subcontractor's work. Review the documents against your contract and policy requirements before work begins.
What information helps a construction insurance review?
Bring current policies, loss runs, payroll and sales by operation, subcontracted costs, major contracts, equipment values and upcoming projects. Explain changes in work type, territory or project size.
From our journal
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