APPETITE

Project-Based Construction

Whether the job involves higher risk or higher limits, our industry veterans have the expertise you need to meet requirements for specific projects.

Forward-thinking answers for your project-specific needs

Applied Specialty Underwriters offers Primary and Excess Liability for project-based construction exposures, with a single underwriter overseeing both submissions. The facility is offered nationwide via appointed wholesale brokers.

Coverage provided by AM Best rated ‘A’ (Excellent) carriers, Financial Size Category XI.


Appetite

The facility entertains project-based CGL and Excess Liability on the following basis:

  • Wrap-up

  • Rolling wrap-up

  • Project-specific insuring developer and general contractor

  • Owner interest


Limits Available:

  • Up to $2M/$4M/$4M Primary CGL

  • Up to $15M in Excess Limit


Limits Structure:

  • CGL only

  • Unsupported Excess in a lead or Excess position

  • Primary and supported Excess with minimum $10M ventilation


Broker Guidance:

  • Minimal appetite for new residential construction on a Primary basis

  • Project-based appetite written via appointed wholesalers


Submission Requirements:

  • Completed Applied Specialty Underwriters project application or equivalent application

  • Project site map and architectural renderings

  • Geotechnical report less than 4 years old

  • Detailed construction budget

  • Construction timeline

  • General contractor's site-specific safety plan

  • Five years of currently valued practice policy loss runs or currently valued loss runs for three recently completed project policies, including description of any large losses.

Contact us to learn more.

We're here to help.

Contact Us

55 West Monroe Suite 1550 Chicago, IL 60603

Products are offered through Applied Risk Services, Inc.; New York License Number 937411, doing business as Applied Specialty Underwriters LLC

©2022 Applied Specialty Underwriters, LLC., Rated A (Excellent) by A M Best.