artisan contractor

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Artisan Contractor

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Learning Objectives

To understand key Contractor related definitions

To understand the primary exposures by line of coverage

To know what questions to ask and what information to gather to pre-qualify a risk

To better understand the concept of Additional Insured, and the complexities the present

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Glossary

Contractor Artisan ContractorHeavy Contractor Sub-Contractor (Sub)General Contractor Additional InsuredCertificate of Insurance (COI) Wrap-Up Project

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Exposures in General

General Liability Property

Premises Premises

Products Inland MarineOperations/Completed Operations Installation Floater

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Exposures in General

Automobile Workers Compensation

Highly recommended1 claim can force

bankruptcy

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Special Coverage Considerations

There are a number of special coverage considerations in dealing with contractors. Some involve endorsements, some involve additional lines of coverage, and some involve good business practices.

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Special Coverage Considerations

Certificates of Insurance Primary & Non-ContributoryPer Project Aggregate Per Location AggregateAdditional Insured How to list Sub-Contracted WorkContractor’s Equipment Installation FloaterSurety Bonds

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Contractors’ Equipment – Worksite Security

Contractors’ equipment is at significant risk of theft, with estimates of losses in the range of $600 million per year. The National Equipment Register (NER) maintains databases of heavy equipment ownership and theft, and provides tips to help contractors prevent losses.

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Contractors’ Equipment – Worksite Security

General strategies recommended by NER to help contractors control the loss of equipment at worksites:

Management ConsiderationsSite SecurityVehicle Security

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Carrier Enhancements

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Carrier Appetite

For the most part, carriers will be interested in the common construction trade contractors, including:

PlumbingElectrical HVACMasonryPaintingTile & StoneConcrete Contractors

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Carrier Appetite

Carriers will typically shy away from those trade that are subject to construction defect claims, including:

RoofingDrywallInsulationWater-Proofing

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Preferred SIC CodesSupport Document Located on the Branch

& GA websites

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Submission ChecklistA submission checklist is the easiest way to ensure that all exposures have been accounted for and addressed

Support documents are available on the Branch & GA websites

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Case StudyThis segment includes a Case study. For those Branches participating in the Certified Commercial Branch Agency (CCBA) Program you will need to complete and pass in order to receive credit for this segment. For Branches not participating, the Case Study is optional

For GA agents the Case Study is optional.

The Case Study material will be available on the Branch and GA portals

RETURN COMPLETED CASE STUDIES TO MARK GLAUG @

mglaug@twfg.com

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Questions???