PRODUCT OVERVIEW
Coverage for direct and indirect costs of subcontractor defaults for general contractors with annual volumes of $50m to $2b in annual construction value.
One of the biggest challenges faced by commercial general builders is risk of subcontractor non-performance. With the experience and insights offered by Cove’s SDI risk engineers and account executives, we can not only help our clients better manage subcontractor performance risk, but can also help them become better contractors and better businesses.
Key features:
- Indemnification coverage.
- 2 year policy.
- Per Loss Limit up to $50,000,000.
- Policy Aggregate Limit up to $150,000,000.
- Indirect Cost Limit of $5,000,000.
- Minimum SIR of $750,000 and flexible co-pay options.
- Post completion coverage of up to 10 years on most projects.
Our key people in
SUBCONTRACTOR DEFAULT INSURANCE
At the heart of our Subcontractor Default Insurance offering is a team of dedicated specialists who bring a depth of knowledge, insight and care to everything they do. Meet the people behind the product—driven, expert, and always ready to support.
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Over the last 25 years the team has been involved with PVT events across the globe and has been asked to provide their expertise to private companies, charities, press and media, and to governments to assist with pre and post loss assessments.