Insurance Specialty Construction Group (ISCG) Success Stories
THE “PROJECT/PRACTICE THINGY…”
Insurance Specialty Construction Group “(ISCG”) is a national leading provider of risk management and insurance products for residential developers and contractors. As a leader in the industry, ISCG is constantly creating new ways to address the needs and frustrations of our clients.
ISCG understands the economic constraints placed on contractors and developers, which can result in their inability to accurately estimate sales projects. In response to that, ISCG has developed a new project policy that provides tremendous relief to Builders/Developers. We don’t have a real name for it, but we have been calling it the “Project/Practice Thingy.” We think you’ll like it!
The “Project/Practice Thingy” is based on an annual/renewable policy and is endorsed to provide full extended products/competed operations coverage. Available in all states except New York & Nevada, the policy offers the following benefits:
- Lower minimum premiums than a standard project policy
- Total premium payment for the project is spread over multiple policy periods and is not all due at the start of the project
- Premium for the annual period is based on estimated sales for that annual period, and not the entire project
- Extended Products Completed Operations Coverage (“EPOCH”) Endorsement is utilized, which is typically only available on a project policy (Statute of Limitations, up to 10 yrs)
- The policy can be “wrapped” to provide coverage to enrolled subcontractors
Below are some recent success stories:
WA – EPOCH – $13,072
$2 million sales, single family homes
1/2/2 limits
CA – EPOCH & Wrapped – $21,000
$1.2 million sales, condo construction
1/2/2 limits
AZ – EPOCH & Wrapped – $21,000
$1.9 million 1st year sales, condo construction
1/2/2 limits
CA – EPOCH – $10,000
$1.1 million sales, single family homes
1/2/2 limits
For more information, please contact one of our APP Underwriting Managers listed below:
Stephen Harrell: 678-742-6336
sharrell@isgins.com
Elizabeth Davis: 678-742-6314
ldavis@isgins.com