Ironshore opens new office in Germany
The construction practices of Liberty Mutual and Ironshore have introduced a new specific programme offering general liability (GL) and professional liability (PL) protection for medium and large construction projects through design build or integrated project delivery (IPD).
Workers’ compensation coverage will also be available as a separate policy.
The new offering aims to help better manage risk for projects that leverage design-build and IPD systems by offer coverage for GL and PL exposures inherent with these approaches.
“Liberty Mutual and Ironshore share deep expertise and in-depth knowledge of the dynamic construction industry,” said Aldo Fucentese, vice president, National Insurance Specialty Construction. “The new integrated solution helps remove the potential gaps in coverage intrinsic to the design-build and integrated project delivery methods.”
The ‘primary wrap/project specific’ policy has has separate policy primary limits for GL and designers and contractors professional liability insurance (DCPL). GL is underwritten on an occurrence basis, and DCPL as a claims-made policy with retroactive protection.
“The design-builder’s professional liability exposures are related to the professional services assumed in the agreement with the owner and then subcontracted to design professionals on the project,” said Ben Beauvais, executive vice president, casualty and construction, Ironshore. “The level of project risk that the design-builder undertakes according to the contract agreement may vary from very onerous to fair-and-equitable. The professional liability coverages and the included risk management services are tailored to provide an integrated solution to design-build contractors’ complex exposures.”
Liberty Mutual, Ironshore, Bermuda, Construction