Latest Developments
4/1/2010
We are starting to see abandoned projects emerging. If EIFS is the cladding and it has a
residential component most brokers have a tough time placing the coverage. We however are
positioned to accomplish great things on these larger projects. I am currently searching
for 2 or 3 this year to work on where we can bring some expertise to the table. We have
several we are looking at currently and feel good about.
In addition, the market continues to be soft and carriers are still trying to gobble up
premium dollars while not offering much coverage. Our clients are enjoying great coverage
acceptable by some of the TOUGHEST GC’s in the country. Our partner carriers are doing a
great job being flexible and getting our companies what they need to comply with complex
contractual requirements. Nice job everyone!
Bryan
1/1/2010
Risk Managers are insisting more and more that contractors have an umbrella as well as mold
and pollution. We have developed with our partner carriers and true “following form”
excess policy that INCUDES EIFS coverage. First time in 10 years that’s been available
in the market place. Pricing is great and we’re excited!
Also pollution/mold policies are coming in priced competitively and include EIFS as well.
Bryan
6/1/2009
Random carriers are starting to jump into the marketplace looking for premium dollars to offset
their economic woes. Where EIFS was taboo before, their now starting to consider. At first blush
this looks like a positive, but after review of several carrier’s coverage forms I was
disappointed to find out that they are filled with endorsements and exclusions that would
confuse most buyers. They offer loopholes the carriers can use to get out of paying claims,
and that’s bad for this industry.
9/1/2008
Mold still remains a coverage concern for contractors in the walls and ceilings industry. Because General Liability policies exclude claims arising from Mold, contractors must purchase a separate policy to protect themselves. Until now it has been near impossible to obtain this coverage, and if one did it was very expensive.
I am pleased to announce our new Mold/Pollution policies now available to walls and ceiling contractors across the US. We are offering this coverage to contractors who apply Dryvit moisture drainage systems. Mold/Pollution Liability with limits start at $1,000,000.
Bryan Dunn
Update – 10/1/2008
General Liability policies allowing EIFS work on both Commercial AND Residential projects still remain obtainable. While most brokers are talking contractors into setting up separate companies for EIFS and non EIFS work, or advising them to stay away from residential work because “coverage is not obtainable”, we are actively writing new policies each day. We do still actively seek out the “best of the best” in the industry, but those who meet our underwriting requirements are benefiting from the best coverage available.
Bryan Dunn
Email: info@eifsinsure.com
Wednesday, February 8, 2012