New York Construction

A powerful approach able to meet the rigorous challenges required for New York construction

Applied Specialty Underwriters® offers New York contractors and their projects the customized coverage and capacity they need for both Primary and Excess Liability.

Applied Specialty’s coverages are offered through a family of carriers with approximately $1B in surplus, and all of our affiliated insurance carriers are rated ‘A-’ (Excellent) by AM Best.

Renewable New York General Contractor Policies

A renewable solution for general contractors in New York with annual construction costs greater than $10M.

Annual General Liability

• $2M each occurrence / $4M aggregate

• Deductible at $10,000

• Comprehensive ISO-based coverage

• Subcontractor risk management and coverage verification program

Annual Excess Liability

• Unsupported Excess Capacity

• $3M each occurrence in the lead Excess position with a $2M each occurrence attachment

• $5M each occurrence with a ground up attachment of $5M each occurrence

• $10M each occurrence with a ground up attachment of $10M each occurrence

Broker Guidance

• Written via appointed wholesale brokers

• Non-admitted and admitted coverage available. Admitted coverage provided via New York Free Trade Zone, with AM Best rated ‘A-’ (Excellent) carriers, Financial Size Category XI

Submission Requirements

• Completed annual practice / renewable GC application

• Currently valued liability loss runs for the insured for the past 5-7 policy years

• 5-7 years of historical exposures, including sales, construction cost and payroll broken out by trade

• Project listing including construction cost breakout for each trade

• An executed subcontractors agreement

Project-based New York Construction

Applied Specialty Underwriters offers a project-based solution for owners, developers, and general contractors in New York with construction costs ranging from $10M to $300M. Coverage can be structured to include owners, developers, and general contractors as named insureds.

Project General Liability

• $2M each occurrence / $4M aggregate

• Deductibles starting at $25,000

• Comprehensive ISO-based coverage

• Subcontractor risk management and coverage verification program

• Appetite includes for-sale residential exposures

Project Excess Liability

• Supported and unsupported Excess Capacity

• $3M each occurrence in the lead Excess position with a $2M each occurrence attachment

• $5M each occurrence with a minimum ground up attachment of $5M each occurrence

• $10M each occurrence with a minimum ground up attachment of $10M each occurrence

Broker Guidance

• Written via appointed wholesale brokers

• Non-admitted and admitted coverage available. Admitted coverage provided via New York Free Trade Zone, with AM Best rated ‘A-’ (Excellent) carriers, Financial Size Category XI

Submission Requirements

• Completed Applied Specialty Underwriters project application or equivalent application

• Project site map and architectural renderings

• Geotechnical report less than 4 years old

• Detailed construction budget

• Construction timeline

• General contractor’s site-specific safety plan

• List of recently completed projects and loss history appropriate to the exposure

• The proposed contract between the owner/developer and general contractor

New York Excess Wrap

Excess Capacity is available for New York based wrap exposures.

Excess Wrap

• $10M each occurrence with a ground up attachment of $15M each occurrence

• A minimum of one General Aggregate reinstatement required for all underlying layers

Broker Guidance

• Written via appointed wholesale brokers

• Non-admitted and admitted coverage available. Admitted coverage provided via New York Free Trade Zone, with AM Best rated ‘A-’ (Excellent) carriers, Financial Size Category XI

Submission Requirements

• Completed Applied Specialty Underwriters project application or equivalent application

• Project site map and architectural renderings

• Detailed construction budget

• Construction timeline

• The general contractor’s site-specific safety plan

• List of recently completed projects and loss history appropriate to the exposure