GC spec home builder in CA

Rob · Post by **Rob** » Wed Apr 11, 2007 6:59 pm

GC coming out of a carrier that is in run off and I'm trying to determine if there is a market that will not have a prior completed work exclusion. Custom spec home builder in CA. Navigators excludes prior work and attaches a 4 year sunset clause. Gemini will exclude prior work as well. It may not exist, but I'd like to be able to say that to them when I present best available.

Rob · Post by **Rob** » Thu Apr 12, 2007 5:10 pm

Well with over 100 views and no responses, it must be a tall order.

volstrike3 · Post by **volstrike3** » Fri Apr 13, 2007 10:32 am

Your not going to find it for a spec homebuilder. Why on earth would a carrier do that?

Rob · Post by **Rob** » Fri Apr 13, 2007 10:45 am

Well Navigators just provided a quote without a 4 year sunset clause (but with a prior work exclusion), so things are looking up.

volstrike3 · Post by **volstrike3** » Fri Apr 13, 2007 10:51 am

How many homes. Lincoln General will give you up to four. They might be worth looking into. Form is not as good as Navigators but at least they don't have a sunset clause. I would be real concerned about a spec home that is bare after 4 years.

Rob · Post by **Rob** » Fri Apr 13, 2007 11:15 am

volstrike3 wrote:Your not going to find it for a spec homebuilder. Why on earth would a carrier do that?

Why not if the premium is appropriate?

Rob · Post by **Rob** » Fri Apr 13, 2007 11:17 am

volstrike3 wrote:How many homes. Lincoln General will give you up to four. They might be worth looking into. Form is not as good as Navigators but at least they don't have a sunset clause. I would be real concerned about a spec home that is bare after 4 years.

Lincoln General will not do a spec home or if there is any financial interest in the home being built.

Lincoln General now offers a standard occurrence form now as well.

wlunday · Post by **wlunday** » Fri Apr 13, 2007 12:43 pm

will the prior carrier offer a tail coverage? Might be the best way to get the priors covered...

Swymmer

doyourhomework · Post by **doyourhomework** » Fri Apr 13, 2007 1:24 pm

If the prior coverage was Occurrence that is where the liability resides.
You do not think of purchasing a tail unless that cover was Claims Made and that is now moot with the intervening time.

The reason all homebuilder markets [incl RRG's] exclude prior completed work is because they will not get Montrosed for stuff that happened prior to their policy. Clear and simple that is the only way to cover their butt. Cover prior work and the carrier is walking dead.

If you do find a carrier willing to eliminate the prior work exclusion or one that does not have a prior work exclusion, be afraid, very afraid and then stay away in droves.

Think about it. If even risk retention groups have a prior work exclusion, what does that tell you.

One thing, some carriers, incl RRGs, will consider including prior completed projects for an AP but those projects will be severly scrutinized and it will be expensive.

Rob · Post by **Rob** » Fri Apr 13, 2007 1:25 pm

wlunday wrote:will the prior carrier offer a tail coverage? Might be the best way to get the priors covered...

Swymmer

Unfortunately the prior carrier (Quanta) is now in run off.

volstrike3 · Post by **volstrike3** » Fri Apr 13, 2007 1:53 pm

I know your pain. I wrote a 29 home project specific policy with HBW when they were using Quanta.

Rob · Post by **Rob** » Fri Apr 13, 2007 3:34 pm

volstrike3 wrote:I know your pain. I wrote a 29 home project specific policy with HBW when they were using Quanta.

Who is HBW? So what did you end up doing with the risk?

volstrike3 · Post by **volstrike3** » Fri Apr 13, 2007 4:41 pm

What is your email address?

Rob · Post by **Rob** » Fri Apr 13, 2007 4:43 pm

volstrike3 wrote:What is your email address?

I sent you a pm.

doyourhomework · Post by **doyourhomework** » Mon Apr 16, 2007 12:15 pm

HBW is still out there. They have found a new patsy in the new Banc of America syndicate [Pembrace - #1212] and are now doing wraps for condos and tracts at prices that again are way way way too cheap and which will cause another crash in a couple of years. The Banc of America syndicate was originally organized to support the HBW debacle but they turned around and hired the prime movers of the debacle with Quanta which means that the inmates are still running the asylum.

GC spec home builder in CA

GC spec home builder in CA

Yes

Re: Yes

spec home builder

Think about it

Re: spec home builder

quanta

Re: quanta

Watch out for HBW --- BE CAREFUL!!!