Roswell, GA, November 11, 2019 --(PR.com
)-- Berkley Construction Professional, a division of Berkley Alliance Managers, a Berkley Company, introduces Faulty Workmanship Liability coverage that fits together with the ISO Commercial General Liability (CGL) policy with respect to property damage arising from faulty workmanship and addresses elements of property damage that are expressly excluded from the ISO CGL policy. Coverage is triggered by a third-party faulty workmanship claim against the policyholder; however, the claim does not have to allege negligence.
“Added to the Berkley Construction Professional Perform policy, this coverage addresses the CGL policy gap for ‘your work’ faulty workmanship claims triggered by third-parties against policy holders,” said Raymond F.H. Bustamante, executive vice president at Berkley Construction Professional. “The insuring agreement covers the amount contractors are legally obligated to pay and even extends to the use of defective materials or products and breach of contract or warranty issues. In other words, we now cover property damage arising out of faulty workmanship that is usually excluded in typical ISO CGL policies.”
The Faulty Workmanship Liability coverage is a separate and independent insuring agreement added to the Berkley Construction Professional Perform policy. Coverage terms include limits/sublimits of up to $2 million.
For more information about Berkley Construction Professional’s new Faulty Workmanship Liability coverage please visit berkleycp.com.
About Berkley Construction Professional
Berkley Construction Professional specializes in construction professional liability and pollution insurance for construction-related industry exposures. Berkley Construction Professional is a division of Berkley Alliance Managers which is a member company of Berkley, whose rated insurance company members are assigned A+ (Superior) ratings by A.M. Best Company and A+ (Strong) ratings by S&P. For more information please visit berkleycp.com.
Disclaimer: Products and services described above are provided through various surplus lines insurance company subsidiaries of W. R. Berkley Corporation and offered through licensed surplus lines brokers. Not all products and services may be available in all jurisdictions, and the coverage provided by any insurer is subject to the actual terms and conditions of the policies issued. Surplus lines insurance carriers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.