By Allison McGreal, Assistant Vice President
PartnerOne recently received a submission for an asbestos/lead abatement, mold remediation, and interior demolition contractor located in Long Island, NY. The agent approached PartnerOne because the policies were placed in a market with an Action Over exclusion which was costing the client opportunities on several projects that wouldn’t accept a New York Labor Law exclusion. The insured was in a very unfortunate situation and we had an opportunity to assist.
The risk was a $750,000 gross sales account with a primary CGL/Contractors Pollution Liability/Professional policy, $1,000,000/$2,000,000 limits and a $5,000 deductible. They also carried a $5,000,000/$5,000,000 Excess policy over their Workers Compensation written through the state fund in NY. Ninety percent of their work was on Long Island, but they disclosed that they may have some work in the 5 boroughs area in New York as well. The account had a clean loss history, well qualified staff, and very strong health & safety procedures, as well as jobsite safety protocols in place written at a very aggressive premium. They had grown the business over the past year, hired new qualified/licensed staff and also offered very good internal training, making us comfortable with the growth of the business. They did not use subcontractors, which means they have more control over their employee training and safety practices from a risk perspective. Our challenge was to find a balance between the broader coverage they required while staying in line with the aggressive pricing of the prior program.
After reviewing the full submission and working closely with our agent, we were able to put together a quotation for their primary policy which met the needs of the insured as well as their clients, giving them the Labor Law protections they needed. Additionally, we were able to offer them a Workers Compensation policy, allowing them to place their coverage with an A+ rated carrier rather than through the New York State Fund. And finally, we provided them with a Follow Form Excess policy that offered the extra layers of coverage they requested over the primary and Workers Comp.
PartnerOne Environmental was able to secure this account by providing the unique coverages that all New York contractors should consider, while offering fast service and a competitive premium.