Coverage Review & Analysis
4Sight Risk Management Strategies LLC has a proven record of providing thorough coverage reviews that are comparable to those provided by the top coverage law firms. As a Construction Underwriter, Home Office Approval Underwriter and Executive Underwriter, we learned the art of writing insurance endorsements and coverage forms. As a Contractor, we experienced what really happens from pre-con to the bid room to the job “sight” that drives construction insurance coverage needs. We catch the little things that too many others miss. In our industry, little things can have big consequences.
Our reviews are more than an outline of potential issues. We will explain why change you might want to consider a change, provide recommendation(s) on what the change should be, and make suggestions on how to accomplish such with the underwriters.
Here are some actual examples of things we found in our reviews. Several of these coverage gaps resulted in the contractor/developer becoming a client of the firm that we did the review for:
- Electrical Contractor who performed a significant amount of their work on electric commuter train “third rail” rail had a manuscript endorsement on their primary CGL policy that in appearance, provided contractual liability for work within 50 feet or a railroad, but in detailed review, there was no coverage.
- A CCIP Professional Liability policy provided by the project owner to cover the design liability of the contractors on a specific project, but the policy form used was actually designed for developers. It provided very little if no coverage to the contractors it was intended to cover.
- An Umbrella Excess Liability policy that was excess of a $1 million dollar primary policy limit. Among other coverage deficiencies, the insured was shocked to learn that the umbrella did not provide ALAE.
- A large deductible program for a mechanical contractor, that acted like an SIR to the extent that the manuscript deductible liability endorsement made the insurance company responsible to claimants only for loss in excess of the deductible amount.
- A primary CGL policy for a subcontractor that was non-compliant with their subcontracts with respects to Additional Insured requirements, Waiver of Subrogation requirements and insolvency provisions of the subcontract.
- A CGL Wrap Up insurance policy, with a “Named Insured vs Named Insured” exclusion concealed in the claim conditions.
