Venture Excess Liability
Writing Companies:
United Specialty Insurance Company (A.M. Best Rating A IX)
Maximum Capacity:
$10,000,000
Average Written Premium:
$45,000
Minimum Premium:
$15,000 / $1M
$25,000 / $5M
$15,000 / $5M x $5M
$40,000 / $10M
Policy Term:
Up to 15 month term for practice policies
Up to 36 month term for Project Specifics
& WRAPS
BOR Procedures:
No Midterm BOR’s accepted; 5 business days to obtain rescinding letter
Territory: All states with the exception of DE **
Clearing Procedures:
Send direct to the Excess Underwriter or clearance address
** We will not consider New York construction accounts.
Target Classes
- Contractors:
- Artisan Contractors (Commercial & Residential including CD States)
- General Contractors (Commercial & Residential including CD States)
- Homebuilders (Custom & Tract)
- Machinery Installation & Repair
- Project Specific Construction & WRAPS’s
- Manufacturers:
- Building Materials
- Machine Shops
- Metal Fabrication
- Medical Products (Non-Invasive)
- Miscellaneous:
- Restaurants, Bars, and Taverns (Liquor Liability is only offered supported over Venture GL)
Agility is key in the excess liability space
as risks get picked over quickly
The construction sector might be booming, with some projecting it to be among the fastest-growing industries in the US over the coming years, but that doesn’t mean it’s free of risks. Check out the full article at Insurance Business America. Posted on Jan 7, 2019.
