Hiscox Launches Digital Professional Liability Coverage for Contractors

Hiscox, a global specialist insurer, has announced the launch of a new digital Professional Liability product specifically designed for contractors.

This insurance offering includes tailored versions for both general contractors and artisan subcontractors, making it a unique product in the market due to its digital availability.

Professional Liability for General Contractors

The newly launched Professional Liability product for general contractors is designed to cover a wide range of risks associated with the professional services provided on a jobsite or project. This includes exposure related to design and engineering work, such as errors made while implementing an architect’s designs. The coverage also extends to job site contractors’ pollution liability, as well as regulatory proceedings involving the Federal Housing Administration (FHA), Occupational Safety and Health Administration (OSHA), and Americans with Disabilities Act (ADA).

Moreover, the coverage includes protection against bodily injury and property damage claims that arise from professional services. Importantly, even if a contractor has not made an actual mistake, Hiscox will still provide legal defense against any baseless lawsuits related to their professional liability. This ensures that contractors are not left vulnerable to costly legal battles that could disrupt their business operations.

Professional Liability for Artisan Subcontractors

Hiscox has also developed a specialized version of this Professional Liability product to address the unique needs of artisan subcontractors, who often face different risks compared to general contractors. In addition to the coverages offered to general contractors, the product for artisan subcontractors includes faulty workmanship coverage. This specific coverage addresses claims related to inadequate skill, quality, or craftsmanship, as well as the use of defective materials. For example, a framer who needs to redo work after failing to follow approved construction drawings would be covered under this policy.

Tyler Peterson, Senior Vice President of Underwriting Management at Hiscox, emphasized the importance of providing contractors with peace of mind so they can focus on their craft. He said, “As highly skilled experts, contractors should be able to focus on their craft without storm clouds of potential legal woes hanging over their heads.

“Hiscox’s admitted Professional Liability coverage for general and artisan contractors is now available online for the first time, taking the stress out of purchasing great quality coverage. If a mistake is made, or even if it isn’t, Hiscox will handle the professional exposure, leaving contractors with the peace of mind they need to build and shape our homes, cities, and businesses.”