Pioneer raises policy limits for specialty contractors
Pioneer Underwriters said on Oct. 12 that it is introducing higher primary general liability (GL) policy limit options for specialty contractors.
Limits have been raised to $2 million each occurrence; $4 million general and products/completed operations aggregate limit and $2 million personal and advertising injury limit.
Pioneer described the move as a response to market needs.
As some job contracts for specialty contractors mandate continuous primary GL policy limits of $2mn/$4mn/$4mn, an insurance need was present. Today’s announcement allows Pioneer Underwriters to offer the broadest coverage available, the company said in the statement.
“We pride ourselves in being responsive to market needs and are delighted to make this announcement just one month after publicizing our coverage expansion to include optional Incidental Contractor Pollution,” said Mary Wiseley, senior vice president of specialty contractors at Pioneer Underwriters.
“Other insurers will provide these contractually required higher policy limits, however, they may be unable to provide other needed coverages that our facility automatically includes.”
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