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Ironshore Inc.’s construction industry group, in conjunction with its Ironshore Specialty Casualty unit, is offering enhanced coverage for designers and contractors, with a specialty program for contractors pollution liability.
Policy limits are for up to $10 million for primary and $25 million for excess coverage, the New York-based insurer said in its statement Monday.
Ironshore said in its statement the coverage will be on an occurrence basis within its combination policy covering contractors liability, contactors pollution liability and pollution mitigation.
Ironshore said also its newly revised designers and contractors professional and pollution liability form provides claims-made, third-party professional liability protection against damages related to contractors negligence in the performance of professional services.
Rectification costs for design defects and protective indemnity for sub-consultant design professionals’ negligence also are available in the coverage.
The Lloyd's of London Franchise Board has granted in principle approval to Bermuda-based insurer Ironshore Inc.'s unit U.K.-based Pembroke Managing Agency Ltd. to set up reinsurer General Insurance Corp. of India's syndicate at Lloyd's, The Royal Gazette reported. Alice Vaidyan, chairman of GIC Re, said that the syndicate will help the reinsurer to broaden diversification and leverage deployment of capital resources.