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According to the International Risk Management Institute, contractors, project owners, and project professionals are increasingly interested in the niche market of Contractor’s Professional Liability Insurance (CPLI).  Yet, less than half of all contractors in need of the coverage are buying it.  Why is that? It might be that contractors don’t fully understand what the coverage is designed to do. We hope this update will help our clients analyze their exposure and determine a course of action.

Contractors have a professional liability exposure when they perform or subcontract design, modify plans, change a manufacturer’s specifications, or provide professional construction management services to a project owner. This exposure is of increased risk in design build projects. Most, if not all, contractors’ general liability insurance policies include a professional liability exclusion that removes coverage for claims arising from their professional services work.

Contractor’s Professional Insurance is designed to provide the contractor with coverage for defense costs, third-party losses resulting from professional negligence, and pollution, if coverage has been added.  Defense cost coverage alone is important, even if allegations against the contractor are false, which can present the contractor with a financial burden that might significantly impact the bottom line.  Sometimes the biggest exposure is a simple conversation or discussion between the contractor and owner that causes a professional liability situation.

We are professional Insurance Advisers and we want to do more than just sell you insurance. Our goal is to understand each of our client’s personal needs and offer sound solutions. Because we are an independent agency, we represent multiple carriers on your behalf.

We have the latest in quoting technology, blended with professional and personal service. At Columbia River Insurance Services, we pride ourselves on not just meeting, but exceeding our customer’s expectations. Once the sale is made, that is just the beginning of our relationship.

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