Specialist insurer Hiscox has rolled out a digital professional liability product specifically for contractors. The new offering features tailored versions for general contractors and artisan subcontractors while standing out in the market due to its digital availability.
The general contractors product provides coverage for contractors’ ancillary design and engineering responsibilities on-site or during projects, including errors in implementing an architect’s designs. It also offers protection for job site pollution liability, regulatory proceedings from FHA/OSHA/ADA, and bodily injury and property damage claims stemming from professional services.
Hiscox also ensures legal defense, providing an attorney for baseless lawsuits concerning professional liability even when no mistake has been made by the insured.
Alongside the coverages offered to general contractors, the policy for artisan subcontractors is designed to address the specific needs and risk profiles of highly specialized contractors. It includes faulty workmanship coverage, which protects against claims of inadequate skill, quality, or craftsmanship, and the use of defective materials.
For instance, if a framer has to redo work due to not adhering to approved construction drawings, the artisan subcontractors coverage would be applicable.
Tyler Peterson, senior vice president of underwriting management, noted: “As highly skilled experts, contractors should be able to focus on their craft without storm clouds of potential legal woes hanging over their heads.
“Hiscox’s admitted professional liability coverage for general and artisan contractors is now available online for the first time, taking the stress out of purchasing great quality coverage. If a mistake is made, or even if it isn’t, Hiscox will handle the professional exposure, leaving contractors with the peace of mind they need to build and shape our homes, cities, and businesses.”
According to Hiscox, the digital proposition allows customers to receive a quote online in five minutes.
Hiscox USA offers a wide array of specialty risk solutions, including errors & omissions, general liability, cyber and data security, media liability, management liability, crime, entertainment, and terrorism insurance products.
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