Leading general liability insurance, commercial vehicle coverage, workers compensation and bonds provider for contractors, Statewide Insurance Brokers, has announced that it has broadened its contractor insurance offerings to include Washington State. The insurer has been providing these products to thousands of contractors of all forms from painters to electricians, since 1995. Today, Statewide Insurance is operating in seven states – Nevada, Oregon, Texas, Virginia, Washington, Minnesota, and California – but has plans for widening. According to one of the company’s senior underwriters, Lana Matar, demand is what is fueling their…
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NYC hears agents and corrects contractor insurance decision
A government agency from New York City has changed their original decision regarding the city’s contractor insurance requirements following the warnings of agents. The NYC Department of Buildings announced that it would alter its contractor general liability insurance requirements for the city. The Independent Insurance Agents and Brokers of New York added that the department also decided that it would not enforce the requirement for advance notice of cancellation to any greater extent than the New York Insurance Law. The Agents’ organization worked with attorneys and other insurance interests in…
Read MoreNew regulations in New York make for impossible contractor insurance requirements
New insurance regulations are slated to go into effect in New York City next week, leading many insurance agents to warn contractors in the City that it may be too late to obtain increased coverage. The City’s Department of Buildings has made changes to the requirements associated with general liability coverage. Effective June 13, insurance policies that do not cover liability for completed work, explosions, collapses and other catastrophic events will be prohibited. Several of the new regulations will make it nearly impossible for the majority of contactors in the…
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