News From Beacon Hill – January 2016

Happy New Year! See why you should work with us in 2016.

As we jump into 2016, we want to take this time to thank you for your business and partnership. Our long-term success is largely due to our wonderful agent partners like you. In 2015, we achieved growth for our 25th straight year in a row: we saw a significant uptick in submission activity and our submit-to-bind ratio continues to trend upward.

We also think it’s a great time to remind you about how we add VALUE to your agency. Ultimately, we are committed to running our business with integrity and getting things right for our agents. Every time. Visit us online to learn more. Or drop us a line to provide a testimonial or suggest an improvement to our processes!

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Contractors Professional Coverage

For many contractors, particularly those that are specialized, the line between contracting services and professional services has become very grey. While they are performing their normal operations, they could face professional exposures by either making slight adjustments to plans to get the job done, supervising other contractors, or providing recommendations that could be considered professional services in the event of a claim.

When contractors purchase General Liability (GL) and CPL policies, they should be aware that professional services are typically excluded from these policies. If a claim is tendered under a GL or a CPL policy and a carrier determines that some of the services that the contractor was performing are actually professional services, this can become a big problem and in the worst case scenario preclude coverage.

One way to ensure that both contracting operations and professional services are addressed in an insured’s coverage is to purchase a combined Contractor Pollution Liability and Professional Liability policy. This will also help to avoid coverage disputes related to contractor versus professional services.

Request more information on Contractors Professional coverage.

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Indoor Air Quality and Re-Openers:  When No Further Action Becomes New-Found Anxiety

By Ivy Riggs, Executive Underwriter, PartnerOne Environmental

In recent years, a significant impetus behind re-openers has been the increased focus on indoor air quality, particularly as it is impacted by vapor intrusion from the subsurface. Read the complete article.

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Recent Success Stories

  • $3M Glass contractor purchased a $2M/$2M CPL policy for $6,546.
  • $1M Salt water disposal well purchased a $2M/$4M EIL policy for $9,045.
  • A 28 mile pipeline owner/operator purchased a $10M/$10M EIL policy for $40,000.
  • $3M Energy “Landman” purchased a $1M/$2M SPL/E&O policy for $13,990.
  • $2.5M Catalyst handling contractor purchased GL/CPL/E&O ($1M/$2M), Auto ($1M), and $5M Excess policy for a total of $61,991.
  • $18M Non-destructive pipeline testing contractor purchased GL/CPL/E&O/Auto and a $10M Excess policy for $892,144.
  • $400k Electrical contractor purchased a $5M/$5M CPL project policy with 3 years extended completed ops for $8,880.
  • $1M Medical waste hauler purchased GL/CPL/E&O/Auto/Workers Comp ($1M/$2M) and an Excess policy for a total of $43,130.
  • Two commercial office buildings purchased a $1M/$1M EIL policy for $12,100. Coverage includes existing and new pollution conditions.