Marsh launches general liability construction product
Reprints
Marsh L.L.C. has launched Project Edge, a U.S. project-specific general liability product designed for the construction industry.
Project Edge is intended to respond to the evolving nature of the industry, including the risks associated with drones, the internet of things, alternative project delivery methods, and off-site construction, Marsh said Tuesday in a statement.
Project Edge was developed by Marsh’s global construction practice and underwritten by Apollo Liability Consortium, a Lloyd's of London syndicate. It contains nearly a dozen liability coverage enhancements and provides broad financial flexibility, including policy extension provisions.
Project Edge is available exclusively to Marsh construction clients as either a standard general liability policy or as a wrap-up and offers up to $2 million in primary limits per occurrence.
“The Project Edge policy takes a holistic view of casualty project risk,” a Marsh spokeswoman said in an email. “It contains coverage for emerging hazards such as unmanned aircraft and electronic data liability (if resulting from physical injury to tangible property) as well as more traditional coverage enhancements including an expanded definition of occurrence and completed operations and repair work coverage through the statute of repose . The policy also provides favorable payment terms, policy extensions, and cancellation provisions.”
Read Next
-
Marsh & McLennan revenue up, tax charge dents profit
Marsh & McLennan Cos. Inc. on Thursday said 2017 fourth-quarter revenue grew 9.5% over the year-ago period to $3.69 billion, even as profit took a hit from a one-time charge due to U.S. tax law changes.
