Real estate developers

Tailored industry coverage

 

Why purchase tailored coverage?

Many A&E forms are not adequately designed to cover the vast array of exposures faced by a real estate developer that can arise from a multitude of venues. We provide a superior policy that covers the most prominent exposures a real estate developer faces within construction, real estate brokering and property management.

Appetite
  • Project owner/developer and any legal entities created for the purpose of development will be included as a named insured
  • Related principals and employees can also be covered under this policy
Capacity

Up to $5M capacity on primary basis

Coverage & Benefits
  • Services as a real estate developer including the services of:

    • Project manager: Establishing and managing the design, construction bid packages and establishing the permits, variances, easements etc.
    • Construction manager: The management, coordination and supervision of the design and construction processes.
    • General contractor: The fabrication and build of the project, including at-risk construction management exposures.
    • Miscellaneous exposures: Miscellaneous exposures tied to the services provided by a real estate agent, title agent, notary public and property manager.
       
  • Bodily injury explicitly covered where directly arising from performance of professional services, up to full limits.
  • Defense of licensing proceedings and subpoena assistance - sublimit included as coverage enhancement, outside of limits.
  • Punitive damages specifically included in definition of ‘damages’, where insurable by most favorable applicable jurisdiction, up to full limits.
  • Personal injury expanded to cover ‘personal and advertising injury’
  • Payment of claimant’s attorney fees explicitly covered as ‘damages’
  • Supplemental payments up to $250 per day, up to $10,000 per claim, outside of limits.
  • Up to $50K in pre-claim assistance, outside of limits.
  • Independent contractors specifically included in definition of ‘insured’.
  • Mold explicitly covered with sublimit of full limits.
  • FHA/OSHA/ADA regulatory coverage up to $25K.

Related products

Package Real estate developers coverage with the following products: General Liability, Cyber, Crime, and Technology.

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Claims scenarios 

Not sure what risks our product covers? We’ve brought some scenarios to life.

Project owner/developer

A family member of an employee who died while working for a general contractor on a construction site sues the project owner/developer. The allegations are: the owner/developer severely limited site access, failed to coordinate the activities of multiple contractors on the site, and issued defective contract documents which failed to properly sequence construction activities.

Project owner/developer

A family member of an employee who died while working for a general contractor on a construction site sues the project owner/developer. The allegations are: the owner/developer severely limited site access, failed to coordinate the activities of multiple contractors on the site, and issued defective contract documents which failed to properly sequence construction activities.

Developer

A condominium owner brings a claim against the developer and the architect for a design error. The architect cannot be located and the architect’s insurance has lapsed. The suit continues against the developer.

Developer

A condominium owner brings a claim against the developer and the architect for a design error. The architect cannot be located and the architect’s insurance has lapsed. The suit continues against the developer.

Project owner/developer

An adjacent property owner sues the project owner/developer for property damage and consequential damages due to negligent construction operations, including alleged ‘design errors and omissions’ of the owner’s design professional.

Project owner/developer

An adjacent property owner sues the project owner/developer for property damage and consequential damages due to negligent construction operations, including alleged ‘design errors and omissions’ of the owner’s design professional.