Contractor's Liability

  
 

Michigan Specialty Insurance Agency, Inc.
Main Office: 2157 University Park Drive, Okemos, MI 48864 
517.347.7467  or  517.484.1476  Toll Free 800-743-1959   Fax 517.347.9074

Michigan Specialty now offers a contractor's program through Victor O. Schinnerer & Company, Inc. that can help you with the challenges faced by the new breed of contractor. One of those challenges is filling the gaps of your general liability policy...gaps like pollution or professional liability.

You know that every contractor needs pollution liability coverage, but you might not know that if your responsibility goes beyond construction to design delegation, actual project design or construction management, you need professional liability coverage too. Now, no matter what manner of contractor you are, you can pick liability coverage that serves your particular needs.

 Each contractor firm is unique. We work with you to craft a program specifically designed to respond to the needs of your company, your client and your lender. We help you evaluate your financial risks and business goals, and depending on those requirements,  we tailor coverage for your firm.


Features and services such as:
Enhanced risk management services
Contract reviews concerning design services by industry specialists
Free subscription to Constructive Comments risk management newsletter for contractors
Outstanding claim services
Specialists dedicated to construction industry claims in 25 major metropolitan markets
Circumstance reporting
Free pre-claims assistance
E-mail access to your claims specialist
Toll-free fax number to submit claims information
Added features
Policies provide worldwide defense and indemnity coverage
Contractor's policies include innocent principle's coverage
Self-insured retention can be reduced by 25% for good claims experience
Non-retroactive credits up to 30% are provided to eligible firms
Longevity credit saves up to 10% for loyal customers

Contractor's professional liability
Protection for failure to detect the faulty workmanship of others
Retroactive coverage available for eligible firms
Coverage for your own liability from design services performed by:
        In-house staff
        Design firms as subcontractors
        Joint ventures with design firms
        Agency & at-risk construction management services
Available limits from $500,000 to $30 million (higher limits may be available upon request
Self-insured retention levels:
        General contractors - $10,000
        Specialty contractors - $5,000
Minimum premiums:
        General contractors - $6,500
        Specialty contractors - $3,500
Punitive, exemplary, or multiplied damages payable to the fullest extent of the law
Basic policy excess over project specific policies
Automatic 90 day coverage for newly acquired subsidiaries
Legal fee and expenses reimbursement for up to $25,000 per year for ADA & FHA actions

 Contractor's pollution liability
Coverage for job site and vicarious liability
Retroactive coverage available for eligible firms
Available limits from $250,000 to $30 million (higher limits may be available upon request)
Self-insured retention level for general and specialty contractors is $5,000
Minimum premium for general and specialty contractors is $2,500
Covers most environmental expenses

 Combined policy
All the protection and coverage of professional liability and pollution policies combined into one
Available limits from $500,000 to $30 million (higher limits may be available upon request)
Self-insured retention levels:
        General contractors $10,000
        Specialty contractors $5,000
Minimum combined premiums:
        General Contractors $8,500
        Specialty contractors $5,000
Protection for generation, transportation, storage or disposal of pollutants
Coverage for clean-up costs

 Contractor's Project Insurance
Minimum premium is $10,000 for a $1,000,000 minimum limit
Available limits from $1 million to $30 million
Minimum self-insured retention is $10,000
Availability in all states, the District of Columbia, and US territories, except for PR
Program special features:
Provides coverage dedicated to one project
Provides choice of coverage
          For third party claims made against the Contractor only, or
          For third party claims made against the Contractor and the design team
Covers the design phase through substantial completion, with no annual renewals
Extended reporting coverage up to five years beyond the date of substantial completion
Guarantees the project rate from project inception based on the estimated construction values, length, scope, and nature of the project
Lets contractors tailor their project's professional and pollution insurance program to meet the client's requirements
   
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Site content is general information on services provided by MSIA and does not constitute an agreement, contract, or full detailing of any individual service. MSIA is a subsidiary of  Child & Family Services of Michigan Updated 08-2010 - Site by JGillette,FreeLance

 
 

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