In an effort to continuously keep our broker partners educated and informed, New Day Underwriting Managers presents another Product Highlight.  Here, we highlight XL Environmental's new Contractor's Protective Indemnity Coverage.  This coverage is designed to indemnify the contractor for losses resulting from design or engineering services.  It goes beyond typical contractor's professional liability coverage. 

Features of XL's Contractor's Protective Indemnity Coverage

• Covers a protective loss in excess of a design professional's (DP) insurance resulting from a negligent act, error or omission in DP services provided that:
• The DP's services were performed on or after the retroactive date and completed prior to the policy expiration date
• The protective claim is first made and reported by the named insured (contractor) against the DP during the policy period or extended reporting period
• There is no prior knowledge of a circumstance which could give rise to a protective claim
• The contractor takes all necessary steps to pursue the protective claim and obtain recovery from the DP and the DP's insurance  

The above is only a brief overview of XL Environmental's Contractor's Protective Indemnity Coverage.  The information contained above has been provided by New Day Underwriting Managers LLC for general discussion purposes.  The information is not offered for the purpose of providing exact coverage terms or conditions.  Policies should be reviewed to understand all coverage terms and conditions.  This coverage can only be offered under a combined Contractor's Professional and Pollution policy.  Minimum limit requirements and loss exclusions may apply. 

For more information about XL Environmental's Contractor's Protective Indemnity Coverage or any of the other products from the quality carriers that offer similar solutions contractors, contact Jeff Slivka at 609.298.3516 ext. 102 or jeff.slivka@newdayunderwriting.com to obtain an indication from XL Environmental or any of the many quality carriers with whom we work.  We look forward to the opportunity to discuss how our extensive risk management expertise can help ensure that you are offering your clients the protection they need to guarantee the livelihood of their business.