1. Broad Form ISO CGL policy with no endorsed limitations for work performed by a subcontractor on behalf of the insured.
2. Primary Limits up to 5/5/5.
3. Annual Practice and Multi-year Project & Wrap policies with Extended Completed Operations Coverage.
4. Coverage available for Single Family, Multi-Family (Fee Simple and Condo), Mixed Use and Small Commercial for foundation values up to $15 million and 5 stories or less.
5. Minimum Practice Premium: Admitted is $5,000 (most states); Non-Admitted is $10,000. Minimum Premium for Project Policies is $20,000 – $25,000 and Wrap Policies is $25,000 – $30,000.
6. Retentions from $5,000 to $1 million are available.
7. “Pay as You Sell Option” for projects and wraps offer deferred payment on the completed operations premium.
8. No limit to the number of homes built during a policy period or any single subdivision.
9. Subsidence Coverage available subject to underwriting approval.
10. Materials purchased by the general contractor are not included when calculating the policy premium.
11. Claims Coordination between Warranty & CGL, providing the best risk management program available.
12. The warranty contract clearly defines the builder’s construction defect obligations to the homeowner (where allowed by state law).
13. Mandatory / Binding Arbitration is used for dispute resolution, avoiding costly and time-consuming litigation.
14. Purchase & Sales Agreement and Subcontractor Agreement are reviewed for best practices to protect the insured.
15. ISG is the underwriting manager for insurance groups rated A+:XV (Superior) and A: XI (Excellent) by A.M. Best Co.
The benefit of CGL & Warranty working together is Risk Management.