San Diego, CA, July 30--London American continues to roll out a number of diverse contractor markets for California with strong financial rated carriers, according to the Insurance Journal.
An A+XV Rated Insurer offering up to 46 classes of contractors. The program offers a full occurrence form. A blanket additional insured primary wording and non-contributory wording endorsements are available. Sub-contracted costs up to 25 percent are allowed. No new construction. C Licensed contractors only while B Licensed contractors are acceptable within approved classes. The minimum premium is $1,000.
They have a Specialty Trade Subcontractors market available with an A++XV Rated Insurer. This program is looking for the contractor with $1,000,000 to $25,000,000 in Gross Receipts and is written on an occurrence form. New residential classes for both tract and non-tract work are available. Classes that have been successfully placed so far include: Electrical, Flooring/Carpet, Painting, HVAC, Masonry, Debris Removal, Fence, Tile and Metal Erection. This market does not accept new multi-unit residential work such as condos, duplexes, triplexes or townhouses. The minimum premium is: $13,500 (non-tract) and $51,000 (tract of any size).
They also offer a Developer and General Contractors market available with an A X Rated Insurer. This product is written on an occurrence form. It does not want Subcontractors (except commercial only). The minimum premiums for commercial accounts are $25,000 and residential accounts $125,000. The minimum attachments are commercial are $10,000 and residential $25,000.
