Turned down everywhere, then insured again
A California contractor had a deck fail on a customer's job. After that, he couldn't get insurance anywhere he looked. His accountant referred him to us. We placed the right coverage and helped him build risk management tools for his business and his subcontractors.
One failure, and no insurer would say yes
The client is a contractor in California. A deck failed on one of his customers' jobs.
After that he went looking for insurance and couldn't get it anywhere he looked.
His accountant referred him to First Underwriters.
Coverage first, then the cause
We found him the right coverage for his work.
Then we helped him create risk management tools for his own business and for the subcontractors he uses.
Insured again, at a 20% surcharge
The contractor is insured again, with the right coverage, at a 20% surcharge over his expiring premium.
That is more than he paid before the loss. It is also coverage he had not been able to find anywhere else, and he now has risk management tools in place for himself and his subcontractors.
Three things that help after a construction loss
Look past the standard insurers
After a loss like this, standard insurers often decline. Specialty insurers write contractors with claims, and a broker who works with them can get you in front of the right ones.
Show what has changed
Underwriters want to know the same loss won't happen twice. Written procedures, inspections and checklists give them something to point to.
Bring your subcontractors along
Written agreements, certificates of insurance and clear standards for subs protect you from their mistakes, and insurers ask about them.
Been told no by other insurers?
Tell us what happened. Hard-to-place contractors are a large part of what we do.
This case study describes an actual First Underwriters client situation, with identifying details withheld. Every business is different. Coverage availability, terms and premium depend on each insurer's underwriting, and past results do not guarantee a similar outcome.