Subcontractor Default Insurance
Designed for general contractors
Coverage for direct and indirect costs of subcontractor defaults for general contractors with annual volumes of $50m to $2b in annual construction value.
- Indemnification coverage.
- 2 year policy term available, plus extended warranty period.
- Each Default Limit of $50m.
- Policy Aggregate Limit of $100m.
- Indirect Cost Limit of $5m. Project Specific. GC’s interest only.
- Rolling, multi project – defined project portfolio.
- Annual (or multi-year) Practice, General Contractors or Owners Interest if owner performs the functions of a GC.
- Minimum SIR of $500,000 and 10% co-pay.