We have been busy at PUA.
Since we launched the program in late 2014, we have made significant progress in creating a program that not only fits the needs of this unique industry, but fits the needs of our agent partners.
We are the exclusive underwriter for Arch Insurance Group (rated A+ XV Superior by AM Best), and our product is positioned for architecture and engineering firms with billings under $20M and design/build/contractors firms with contract revenues under $150M.
We know that the market is competitive, and over the past year we worked hard to:
develop one of, if not the broadest policy forms
available in the marketplace
gain admitted status on the A&E form in all
states (except for MA which should be admitted by 3/1/16 and LA where we will not be writing on an admitted basis)
create a robust risk management program run by
expert Kent Holland of Construction Risk, LLC.
We are proud that we have grown our program while maintaining the excellent service standards that are the foundation of PUA.
Below you will find a few more highlights of our program.
Arch Insurance Company handles all claims under our program.
Their team is led by a group of attorneys with over 50 years of experience handling A&E claims.
Arch has been underwriting A&E professional liability for over a decade and our claims team is well-versed in the industry.
Broad Coverage for Contractors:
Contractors / Design Build / Construction Management is a major niche within our A&E program.
As mentioned above, our policy forms are amongst the broadest forms available in the marketplace.
In fact, we offer two first party coverages for contractors under the CPP+ form as follows:
Protective Indemnity - Indemnifies named insured excess of design professional's PL coverage for costs the named insured incurs (and is legally entitled to recover) as a result of negligent acts, errors and omissions of design.
Rectification/Mitigation - First party coverage for damages incurred as a result of a design defect discovered during the course of construction, that if not addressed, would result in a professional liability claim.
Unlike Protective coverage that supplements the design professional's PL policy, R/M coverage essentially replaces the design professionals insurance, but only with respect to costs incurred by the named insured to rectify design issues discovered during the course of construction.
R/M coverage is primary coverage subject to the deductible and allows for construction to proceed with funding for rectification costs coming from the insurer rather than the contractor.
R/M allows for the insured to proactively rectify a problem in the field and potentially reduce the damages, rather than wait for the problem to develop into a claim.
PUA can offer up to $5M in excess limits with Lloyds over other carrier's professional liability policies as
Full Excess Limits Policy
Specific Project or Client Excess Limits
If you’d like to pursue excess limits with PUA, please forward a copy of the primary policy, a copy of the application
that was completed for the primary policy, and current loss runs for further review to firstname.lastname@example.org. If coverage is to be limits to a specific project or client, we’ll also need a specific project/client supplemental application.