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Artisan Contractor
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TWFG Commercial Business SchoolArtisan Contractor
Learning Objectives
To understand key Contractor related definitions
To understand the primary exposures by line of coverage
To know what questions to ask and what information to gather to pre-qualify a risk
To better understand the concept of Additional Insured, and the complexities the present
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Glossary
Contractor Artisan ContractorHeavy Contractor Sub-Contractor (Sub)General Contractor Additional InsuredCertificate of Insurance (COI) Wrap-Up Project
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TWFG Commercial Business School Artisan Contractor
Exposures in General
General Liability Property
Premises Premises
Products Inland MarineOperations/Completed Operations Installation Floater
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TWFG Commercial Business School Artisan Contractor
Exposures in General
Automobile Workers Compensation
Highly recommended1 claim can force
bankruptcy
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Special Coverage Considerations
There are a number of special coverage considerations in dealing with contractors. Some involve endorsements, some involve additional lines of coverage, and some involve good business practices.
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TWFG Commercial Business School Artisan Contractor
Special Coverage Considerations
Certificates of Insurance Primary & Non-ContributoryPer Project Aggregate Per Location AggregateAdditional Insured How to list Sub-Contracted WorkContractor’s Equipment Installation FloaterSurety Bonds
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Contractors’ Equipment – Worksite Security
Contractors’ equipment is at significant risk of theft, with estimates of losses in the range of $600 million per year. The National Equipment Register (NER) maintains databases of heavy equipment ownership and theft, and provides tips to help contractors prevent losses.
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Contractors’ Equipment – Worksite Security
General strategies recommended by NER to help contractors control the loss of equipment at worksites:
Management ConsiderationsSite SecurityVehicle Security
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Carrier Enhancements
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TWFG Commercial Business School Artisan Contractor
Carrier Appetite
For the most part, carriers will be interested in the common construction trade contractors, including:
PlumbingElectrical HVACMasonryPaintingTile & StoneConcrete Contractors
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Carrier Appetite
Carriers will typically shy away from those trade that are subject to construction defect claims, including:
RoofingDrywallInsulationWater-Proofing
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Preferred SIC CodesSupport Document Located on the Branch
& GA websites
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Submission ChecklistA submission checklist is the easiest way to ensure that all exposures have been accounted for and addressed
Support documents are available on the Branch & GA websites
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Case StudyThis segment includes a Case study. For those Branches participating in the Certified Commercial Branch Agency (CCBA) Program you will need to complete and pass in order to receive credit for this segment. For Branches not participating, the Case Study is optional
For GA agents the Case Study is optional.
The Case Study material will be available on the Branch and GA portals
RETURN COMPLETED CASE STUDIES TO MARK GLAUG @
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Questions???
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