CHES Special Risk is offering a reminder that small contractors will need liability insurance, and that it can help by providing a tailored policy that suits small contractors’ needs.

Read more: Insurance for contractors: 10 essential policies for construction projects

The managing general agent noted that small contractors face numerous risks from construction sites, legal and regulatory laws as well as transferred liability from general contractors. Small businesses are particularly vulnerable to risk, and without adequate coverage may find themselves facing bankruptcy – or even closure, CHES Special Risk said.

For coverage that protects carpenters, flooring contractors, or even small contractors that work with gypsum, CHES Special Risk’s underwriters can create a tailored policy that not only offers sufficient cover, but is also priced appropriately. The MGA’s offering has the following features:

• The replacement cost coverage for the tool floater is on items up to 3 years old.
• Coverage limits of up to $5,000,000 are available, and can offer through the “Wrap-ups 12” or 24 months “Completed Operations” coverage.
• CGL extensions for faulty workmanship, materials, and design.

In a release, CHES Special Risk noted that contractor’s insurance is the company’s “core product,” and its most “widely purchased.”

Read more: CHES Special Risk reminds brokers to help clients secure coverage ahead of immigration surge

Last week, CHES Special Risk promoted its specialty insurance coverage for lawyers, in anticipation of increasing immigration levels in Canada. Lawyers play an important role in the immigration process, but CHES Special Risk has advised that they will need E&O coverage in the event of a misrepresentation risk.