Victor O. Schinnerer & Company, Inc. has made two enhancements to its construction management program to better meet the needs of policyholders.
Effective immediately, there is no longer a residential cap in the Construction Management program. Schinnerer is now able to write up to 100% residential which includes: single family, multi-family (townhomes), and apartment projects.
Multi-year policies are now available for construction management risks that meet the following criteria:
- Firms with less than $250,000 in fees
- Maximum five year loss ratio of 60%
- No more than one open claim
The new multi-year policy has lower minimum premiums than the traditional annual policy. The filing is currently under way in all 50 states. Currently it is available in AL, AR, AZ, HI, IA, ID, IN, KY, MI, MN, NJ, ND, SD, TX, UT, WI and WY.
“The residential change was made to allow more construction managers to fit the program while the multi-year policy was expanded to construction managers to make the renewal process for insureds much simpler. Our goal with these changes is to make doing business with us that much easier,” said Cady Snyder, Construction Management program manager.
Schinnerer offers a complete insurance program for construction managers that includes professional liability as well as property and casualty.
Source:
Topics Construction
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