Products: IEL Construction

Ironshore Europe custom-built construction risk solutions, including residential and commercial wrap-ups/project specific policies, and practice policies for subcontractors, commercial general contractors and construction-related businesses.

Residential and Commercial Wrap-up/Project Specific Policies

Occurrence based general liability coverage with extended completed operations for statute of repose (no 10 year cap) for residential and commercial projects covering the owner, the general contractor and the subcontractors.

  • $10M capacity on residential, up to $25M capacity on commercial. Capacity on commercial depends on attachment, price and underlying capacity already utilized.
  • Generally minimum SIR for residential $25K - $50K
  • Minimum SIR for commercial $10K
  • Generally $150K minimum premium (can be flexible on small projects)
  • Ironshore pays the TPA costs and no collateral required on SIRs, adding to efficiencies
  • Close of escrow or substantial completion
  • Silent on subsidence
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Partially Completed and Completed Projects

  • Tailored coverage for property owners and holders of uncompleted or in-progress real estate and development projects offering premise/operations and completed operations including extended completed operations coverage
  • Policy addresses potential of future claims resulting from construction defect perils throughout the duration of project completion out to statute of repose
  • Multi-year extension policies allow for completion of operations with no prior work exclusion on a project-specific basis
  • Discontinued operations coverage available on an occurrence and claims-made basis

Residential/Commercial Subcontractors & Commercial General Contractors Practice Policies

  • 2004 ISO general liability occurrence form for all types of residential and commercial subcontractors engaged in new construction or repair/remodel work on everything from condominiums and single family dwellings to tract homes and multi-family dwellings
  • Will also cover commercial general contractors engaged in building apartments, mixed-use buildings, retail and office space and large commercial grade buildings.
  • Limits of $1M per occurrence, $2M general aggregate, $2M products aggregate (higher limits available based on risk involved)
  • $5K minimum deductible
  • $25K minimum premium
  • Claims handling by construction industry specialists
  • Cover "prior work" in most states
  • Defense costs outside of the limit
  • Blanket additional insured coverage - primary and noncontributory wording available
  • Silent on subsidence

Excess Liability For Construction Risks

  • Follow form excess liability over general liability, auto liability, and employer's liability
  • Up to $25M capacity available for commercial
  • Can play on a lead or excess basis
  • Excess capacity for residential depends on risk involved and attachment point
  • Supported and unsupported