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BJ Leonard, R-T Specialty

The Dos and Don'ts of Servicing Contractor's Professional Liability Claims

Hamilton, New Jersey (December 16, 2020) – R-T Specialty, LLC’s Environmental and Construction Professional (RT ECP) Practice recently detailed The Dos and Don'ts of Servicing Contractor's Professional Liability (CPrL) Claims during an online executive industry panel moderated by BJ Leonard, the company’s assistant vice president of claims. 

This has been an incredibly challenging year that has seen CPrL claims rise alongside its growing popularity,” says Leonard. “That’s why everyone that either possesses or is considering the purchase of this policy form needs to thoroughly understand the insuring agreements for each coverage part, as well as the conditions and obligations set forth in the policy to maximize the coverage benefits within these forms.”  

“Insureds and brokers should always err on the side of caution. No matter if it’s a structural integrity problem or design error committed by subcontracted professionals, mistakes happen despite the level of due diligence. Contractors must realize that carriers have a vested interest in the project’s success and while no one wants to make a claim against a subcontractor or colleague before the job is done, business is business and the integrity and financial stability of the work must come first. This means always submitting a ‘notice of circumstance’ when issues arise and not waiting until challenges become unmanageable to file a claim.”

“Transparency” was the underlying theme emphasized repeatedly by the panel of experts representing two leading CPrL carriers. This included stressing the need to contact insurers within the documented policy period with information highlighting the nature and timing of the circumstance, service involved and the extent of the potential loss. 

Also stressed was the need to confer with carriers and counsel before settling disputes or seeking recovery. As an example, one of the panelists detailed the mold situations faced by two different contractors. One worked with the insurer to overcome the problem once identified, while the other was denied coverage after they presented the carrier with a bill for the remediation work without prior consent or notice.

“No one, including the insurer, wants to see a claim nullified,” adds Leonard. “That’s why it’s so important to meticulously follow the guidelines for filing claims and then work with the carrier to investigate, identify and overcome the problem. The successful, financially-rewarding completion of projects work in everyone’s best interests.”

For more information on this or future RT ECP webinars or additional company information please visit https://rtspecialty.com/product/environmental-construction-professional-liability/ or call 609-298-3516.

About R-T Specialty, LLC

RT Environmental and Construction Professional (RT ECP) Practice is a division of R-T Specialty, LLC (RT), a subsidiary of Ryan Specialty Group, LLC. RT ECP (https://rtspecialty.com/product/environmental-construction-professional-liability/is a specialty resource for insurance agents and brokers with expertise in environmental insurance, environmental risk management and construction related professional liability. RT ECP offers agents and brokers single-point access to an ample portfolio of products and services provided by the nation's largest environmental and professional liability insurance providers. As a wholesale broker, RT does not solicit insurance from the public.  Some products may only be available in certain states, and some products may only be available from surplus lines insurers. In California: R-T Specialty Insurance Services, LLC License #0G97516 (c) 2020 Ryan Specialty Group, LLC.

 For more information please visit www.RTSpecialty.com or call 609-298-3516

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