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Posted on 21 Oct 05
Storefront Owner AVRECO http://www.programbusiness.com/tracking/sftracker.asp?Sfid=198 announces its newest market for Contractors, ProBuilders Specialty Insurance Company, RRG, targeting the Midwest and Eastern US
The ProBuilders Advantage
ProBuilders focuses on the contracting sector with emphasis on residential contractors (subs and generals). The program is designed for the small (under $250k receipts) to the large (up to $25m) and provides evaluation of “Right to Cure Laws” and other statutes coupled with case law.
Plus, as an RRG (Risk Retention Group), ProBuilders is a specialist company that underwrites as a homogeneous group and can offer rate and policy form flexibility; ownership by insureds—an opportunity to invest in a profitable, fast growing, focused group; no joint & several liabilities; and no past liabilities.
Target Market
ProBuilders target market encompasses both standard and artisan contractors and subcontractors, and will generally consider Residential and Commercial General Contractors with gross receipts under $10 million. In their Standard Program, ProBuilders will consider both Commercial and Residential subcontractors with gross receipts up to $10 million. They will also entertain both Roofing and Waterproofing Contractors with sunset clause option only. In their Artisan Program, ProBuilders will consider Commercial and Residential Artisans/Specialty Contractors (remodeling/renovation only) with gross receipts under $1 million.
Wrap Product
A Wrap Product is an Insurance Policy that consolidates all insureds (subs etc) onto one policy. This is a flexible Program targeting Residential & Commercial projects up to $25 million in projected receipts, with a niche for projects $10 million and under. Limits available are $1 Million/$2 Million/ $1 Million and $2 Million/$2 Million/ $2 Million. There is a Minimum Retention of $50,000 per occurrence, a Minimum Premium of either $125,000 ($1M/$2M/$1M) or $187,500 ($2M/$2M/$2M), and a subscription Fee of $3,500 (Flat Charge). The Policy Form provides Statute Coverage, and Defense Costs are included in the policy limit.
Underwriting & Claims
ProBuilders’s Underwriters are experienced in the contractor market (5-20 years). The manuscript form is designed in 1996 “Post Montrose,” and the rating basis is non-ISO, based upon receipts and not payroll. ProBuilders’s in-house experienced claims staff is located conveniently with the underwriters, and they retain a coverage-litigation counsel with a combined experience of over 30 years. Further, their reserves are reviewed by Insurance Industry Consultants with formal reports twice per year.
Association Endorsements
Finally, ProBuilders is proud to acknowledge a number of association endorsements with associations mainly in the western United States. These associations include the following: Alaska Home Builders Association _ Colorado Association of Home Builders _ Builders Association of Northern Nevada _ Builders Association of Western Nevada _ Southern Arizona Home Builders Association _ Northern Arizona Building Association _ Tennessee Home Builders Association _ San Diego Roofing Contractors Association _ Peninsula Builders Exchange.
For further assistance, please contact: Visit the AVRECO storefront at http://www.programbusiness.com/tracking/sftracker.asp?Sfid=198 or Mark Senkbeil at (312) 294-5536 or msenkbeil@avreco.com.
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