Most owners, contractors and builders depend on their insurance agent or broker to evaluate their construction risks and exposures, structure a cost-effective insurance program, and procure the most appropriate loss control and claim administration services. However, if an agent or broker lacks construction industry experience, or is unfamiliar with the risks and/or loss exposures associated with a specific construction class of business, it is difficult for an owner, contractor or builder to obtain an optimal result.

Many insurance agents and brokers are generalist. Therefore, owners, contractors and builders should be more proactive in selecting a qualified insurance or risk management professional that can recommend and structure a comprehensive risk management program that encapsulates all of their risks and loss exposures. This will significantly mitigate the potential of any coverage gaps and/or purchasing insurance that is not necessary, which is not a very cost-effective outcome on a new, or on a renewal of an existing program.

Insurance reviews are one of the risk management services provided by C-Risk, and an area we differentiate ourselves from other insurance or risk management consultants. We use quantitative and qualitative methods in our risk review analysis to identity and minimize a client's risks and loss exposures. C-Risk assists owners, contractors and builders with designing insurance and risk management programs to incorporate required policies, coverages and limits, and facilitate the insurance underwriting process.

We help contractors understand the underwriting process and assist them in providing their insurance agent or broker with the appropriate information and documentation required by insurance underwriters. This can significantly expedite the underwriter's review process and improve a client's ability to obtain the most competitive insurance pricing, coverage and limits, based on a client's specific loss experience and risk profile.

When requested, C-Risk will assist in negotiating insurance pricing, broader coverage terms, and higher limits in order to achieve maximum coverage at a reasonable premium.

C-Risk provides the following Insurance-related services:

  Insurance Program Reviews

      Policy Reviews and Analyses

      Coverage Reviews and Analyses

      Insurance Clause, Endorsement and Edition Date Reviews

      CGL Policy Design Liability Exclusions (CG 2279 and CG 2280)

      Underlying Coverages and Limits, and Excess (Umbrella)

      Project-Specific Policy Reviews (PMPL, OCP, etc.)

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  Insurance Coverage Comparisons

      Guaranteed Cost vs. Loss-Sensitive

      Policy Coverage Gap and/or Overlap Reviews

      Existing Coverages vs. Actual Exposures Review

      Conventional Insurance vs. Alternative Risk Financing

      Self-Insurance Feasibility Studies

  Underwriting Risk Assessments

      Loss Experience Review and Analysis

      Contractors Professional Liability Reviews

      Wrap-Up Insurance Program Reviews

      Subcontractor Default Insurance Reviews

C-Risk can provide Insurance Reviews for a number of reasons. The primary reason is when a contractor's construction business operations change and they require a thorough review and evaluation of new or additional coverage. For example, the contractor may decide to change their construction market segmentation and contract to do more design-build projects in lieu of general construction projects.

Other reasons may include; when a contractor wants to reduce their total construction insurance and risk management program cost, when a loss occurs that was either not covered or inadequately covered by their existing insurance program, or when a contractor wants an objective and impartial review of their insurance program by an independent insurance and risk management consulting firm.

Another reason could be when a contractor plans to competitively market their insurance program to other agents, brokers, or carriers. A risk review analysis provides a client with the basis for determining an appropriate insurance and/or risk financing program design. For additional information about C-Risk and how we can assist you with your company's construction insurance and risk management program requirements, please contact us at 503-228-0884 or email consulting@c-risk.com.