Commercial Contractors' Captive
This Captive program is designed for commercial trade contractors who desire to take risks, are financially sound and have a good loss history. Coverage is available for a variety of contractor types, including street and road, site construction, mechanical, electrical, general contractors (preferably >25% self-perform), water treatment, landscaping, etc. Combined premiums of $250,000 and up for Workers’ Compensation, General Liability, Auto Liability and Auto Physical Damage are required.
Business owners: Contact your insurance agent or broker
Insurance agents
Appetite
- Commercial trade contractors
- Street and road
- Site construction
- Mechanical
- Electrical
- General contractor (preferably greater than 25% self-perform)
- Water treatment
- Landscaping
Geography
- Nationwide with some limitations in states such as California, Florida and New York
Coverages offered
- Workers' Compensation
- General Liability
- Auto Liability
- Auto Physical Damage
Ineligible risks
- Contractors that do not perform at least 25% of the work themselves
- Residential risks
- Demolition contractors
- Scaffolding
- Remediation work
- Power line construction
- Swimming pools
- Airport runways
- Elevators/escalators
- USLH/maritime greater than 10%
- Waterproofing
- Pile-driving
- Fire suppression/Fire-proofing
- Quarries
- Roofing
- Steel erections
- Boiler installations
- Bridge construction (limited appetite)
- Insureds must pass loss-control assessments
- Currently valued loss runs for past five years and current year
- Exposures for past five years (Workers' Compensation: Payroll General Liability: Field Payroll Auto Liability/Physical Damage: vehicle count)
- Two-year current financial statements
- Completed submission form, available upon request for contact
- Contractors questionnaire
- Workers' Compensation - statutory
- General Liability - $1 Million
- Auto Liability/Auto Physical Damage - $1 Million
- 30% historic loss ratio
- Historical average net cost of insurance is over 30% less than pay-in premium
- Premiums based on insured's own experience
- Captive program, domiciled in the Cayman Islands
- Combined premiums of $250,000 and more for Workers' Compensation, General Liability, and Auto Liability/Auto Physical Damage
- Strong commitment to safety and loss control (designated safety director preferable)
- Desire to take risks
- Financially sound
- Good loss history