XL launches general liability only wrap policy for construction
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XL Group Ltd. on Tuesday said its North America construction business is introducing GL Only Plus, a new general liability only wrap policy.
Typical wrap policies, also known as (owner) controlled insurance programs, include multiple coverages such as workers compensation, general liability, excess liability, pollution liability, professional liability, builder's risk and possibly others, depending on the project, the insurer said in a statement.
The GL Only Plus program was designed for large construction projects that typically range between $250 million and $5 billion in construction value, according to the statement. It is admitted and will be available on a retail basis.
Limits are flexible, with the ability to go up to $5 million on select projects, an XL spokeswoman said in an email.
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