Contractors that provide specialized skills in support of the completion of large building projects for a general contractor or exclusively in their respective trades, are a valued and substantial part of the American economy. Representing trades that span foundation, structural, finishing, mechanical and electrical contractors, their employment, as of May 2018, represents 4,602,000 US jobs.1 In early 2018, an industry survey reported 75% of all contractors planned to expand headcount this year.2
For the agents who work with specialty contractors, finding the best fit for the individual insureds can be quite challenging when reviewing the myriad of insurance options that are available. With so many markets now noticing the opportunities available in this space, the lessor experienced carriers can further compound the decision-making process. These providers, attracted by current growth, may not bring the level of expertise and stability that a program can offer and are often the first to opt out at the first signs of industry uncertainty.
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