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London, Oct. 18, 2017 (GLOBE NEWSWIRE) — 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.
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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
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Eleanor LewisBeazley Group+44 (0)20 7667 0538eleanor.lewis@beazley.com
