Bermuda-based Ironshore Specialty Casualty’s construction unit is introducing a suite of endorsements for construction projects tailored to meet the liability needs of the sophisticated market participant.
The firm’s new endorsements are available for wrap - owner controlled insurance programme (OCIP) and contractor controlled insurance programme (CCIP), project specific and owner’s interest developments, providing comprehensive coverage options for project owners, general contractors, joint venture entities and real estate developers.
Coverage enhancement options are underwritten on the standard ISO General Liability policy form, with primary limits up to $2 million per occurrence and $4 million on an aggregate basis.
Ironshore’s owner’s interest integrated coverage endorsement has been specifically developed to provide project owners with residual coverage related to a project in excess of other available policies from any contractor or subcontractor. The policy language has been crafted in response to the distinct risk exposures faced by project owners. As an additional enhancement, clients can also further expand coverage to include extended completed operations.
“Ironshore’s attention in developing reliable coverage solutions for the specialty construction sector is reflected in our own carefully worded policy language that defines exactly what is protected with regard to complex project risks,” said Ben Beauvais, executive vice president of casualty and construction.
Ironshore Specialty Casualty, Bermuda