Commercial General Liability Coverage for Owners
- The general contractor handles all subcontractor activities and job-site safety, providing the insured with language including hold harmless and indemnification as well as additional insured status in their favor.
- At a minimum, an executed contract and certificate of insurance from the hired general contractor will be required, depending on the scope of work.
- Argo Construction provides access to both primary and lead excess ($10 million maximum).
- Argo Construction will consider unsupported excess with limits up to $25 million when excess of $15 million.
Owners and Contractors Protective Liability (OCP)
OCPs provide coverage to supplement the owner’s additional insured status on the general contractor’s general liability policy during construction. This coverage is intended to be contingent on the general contractor’s general liability limits but can drop down and pay covered losses that are uncollectible under the general contractor’s policy when limits have eroded or coverage cannot respond.
Filling OCP Coverage Gaps
Depending on bank requirements, project specifics and other coverage in place, an OCP may be adequate coverage. But in many common scenarios, having only an OCP leaves large coverage gaps. Our Owner’s Interest policies will fill those gaps by including premises liability and products completed operations coverage.
- The general contractor will provide additional insured and primary and noncontributory status to our named insured, as well as adequate limits for the scope of work.
- Colony provides up to $10 million/$10 million in general liability limits.
Appetite & Availability
Owner’s Interest (OI) Main Appetite
An owner hiring a general contractor to construct a new building or renovate an existing building for a residential or commercial project
- Minimum premium as low as $3,500, depending on the scope of work, term, costs, project state and hazards
- Up to three direct-hire contractors
- Occupied buildings undergoing nonstructural renovations
- Demolition-only project
- Structural additions to vacant buildings
- Residential projects including condos and single-family homes
- Extended product completed operations
- When Colony insures the GL/Excess for the hired general contractor
- Extensive structural work in occupied buildings
- Depending on coverage levels, we may require a contract and COI with adequate insurance and limits from the hired general contractor.
Owners and Contractors Protective Liability (OCP) Main Appetite
An owner hiring a general contractor for commercial, residential or industrial projects
- Capacity up to $10 million/$10 million in limits
- Single-project OCP preferred
- Multiple-project OCPs
- Projects involving blasting, bridge construction, refineries/power plants, dam work, underground construction (tunneling, subways, mines) and airport runway work