Philadelphia Insurance Cos. (PHLY) a property/casualty and professional liability insurance company for niche markets, has launched insurance coverage specifically designed to protect restoration contractors. These companies are typically hired – often by insurance companies – to clean up and restore property following a fire, flood or other damage.
The frequency and severity of convective storms is leading to greater demand for the services of restoration contractors. Businesses in this industry looking for auto, environmental and other specialty insurance protection often seek coverage through multiple carriers. PHLY’s new product offers these coverages in one source.
The policy includes general liability, property, auto, environmental, crime and fidelity, inland marine, and Bailees (property of others) coverage. PHLY provides added auto coverage services including zero deductible for auto glass, towing coverage, and lease gap protection. The coverage is admitted in all states except La. Environmental is available on a non-admitted basis.
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