Berkshire Hathaway Specialty Insurance has just rolled out a consolidated coverage option for contractors. In what can be a grueling and time consuming process, the insurance firm has managed to streamline the process, which should mean you can focus more time on your job rather than potential litigation. The new product combines primary general liability coverage enhancements and has transformed them into a single solution.
“We developed this form to deliver precisely what our construction industry customers want. They can have confidence that they are securing the appropriate coverage, with Berkshire Hathaway Specialty Insurance’s financial strength, and access to an experienced claims organization that is committed to customer satisfaction in claims,” states Robert Romeo, (VP, Healthcare and Construction Claims, Berkshire Hathaway Specialty Insurance).
The product was designed to simplify insurance packages for construction wrap-ups and project specific programs. Structurally, the program covers either single projects or rolling wrap-up programs. Flexible limits, per-project and aggregate limits can all also be considered as an option for contractors will require special consideration during certain parts of the project. However, the per-project limits or aggregate limits will only be provided for completed operations.
“Our consolidated insurance endorsement makes it easy for contractors and project owners to secure general liability and completed operations coverage tailored to their needs and to the current industry environment. Our clear, cohesive form facilitates consistent coverage and limits across projects and subcontractors,” Bill Sullivan (VP for construction at Berkshire Hathaway Specialty Insurance).
This new program represents yet another step the insurance industry has taken to help contractors who are still feeling the effects of the Great Recession. Through the simplification of programs and the streamlining of insurance packages contractors should have an easier time finding a customized plan that fits their current needs. Berkshire Hathaway Specialty Insurance has responded to the demands of contractors and hopefully the rest of the insurance industry follows suit as these creative packages are aiding widespread development for contractors.