XL Catlin’s North American Construction business has a new product designed for large contractors and some owners of large construction projects. Liberty Mutual debuted its new proprietary Premier Property Protector policy.
XL Catlin’s North America Construction business is marketing a new General Liability-only wrap-up product.
Known as GL Only Plus, the coverage is designed to offer more flexibility to large contractors and select owners that need more control and cost savings over their general liability coverage on large projects.
XL Catlin said that while GL Only Plus is not for every contractor or owner, it is an alternative that gives clients the chance to take advantage of XL Catlin’s full roster of services from claims management to risk engineering. Also, they gain access to XL Catlin products such as Builders Risk, Project Specific Professional Liability, Project Specific Pollution Liability and Excess Liability.
GL Only Plus is also offered on an admitted basis to qualified sponsors through a retail distribution network.
The GL Only Plus program is designed for large construction projects typically ranging between $250 million and $5 billion in construction value.
Liberty Mutual debuted its new proprietary Premier Property Protector policy, all-risk coverage that can accommodate all of a broker’s single carrier and shared and layered property coverage needs with contract certainty.
The insurer said that its Premier Property Protector form blends broad coverage, an intuitive structure and easy-to-understand language designed to help brokers quickly pinpoint, compare and explain coverages, limits and conditions.
Additionally, the form is supported by Liberty Mutual’s consultative property risk engineers.
Premier Property Protector is available in 49 states, with pending approval in Texas.
Sources: XL Catlin, Liberty Mutual