Golden Insurance Co. RRG has extended its primary commercial general liability coverage for builders, general contractors and artisans to $1 million/$1 million beginning in Jan. 2007.
Coverage is offered on a claims-made basis, and most builder trade classes will be considered. Extended tail coverage of two or three years may be purchased at additional premium. Project specific, premise only and $1 million excess coverage is also available. The program will primarily market to contractors involved in condo/townhome, HOA and multi-family projects, and premiums will be rated off payroll for artisans; general contractors will be rated off of gross receipts. Coverage is offered in multiple states.
Minimum premiums are $3,500 for most artisans and $5,000 for general contractors, roofers and plumbers. Deductibles are offered at $1,000/$2,500/$5,000/$10,000. Higher SIR will be considered on a case by case basis.
Additional credit and discounted rates are given when bundled with the structural warranty coverage through StrucSure Home Warranty. Credit is also given for clean loss history.
Primary policy exclusions include: prior acts exclusion; course of roofing; mold/fungus; subsidence/earth movement; nuclear exclusion; wrap up exclusion; and designated work exclusion.
Risk Management is performed by Beecher Carlson, which will be responsible for all aspects of risk management, policy generation, claims services, actuary and regulatory issues. SHW Insurance Services Corp will provide underwriting and binding functions.
Policy is 25 percent earned and fees include a fully earned 5 percent subscription fee, applicable state tax and a flat $250 or $500 policy fee. Premium financing is available. Commission to producers is 12 percent.
Golden Insurance Co. RRG has domiciled in Nevada. For more information, contact Hadley Wood at 888-654-6565.
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