What is Trade Contractors Pollution and Professional Liability Insurance?
Trade Contractors Pollution & Professional Liability (TCP2) is an innovative new product that combines contractor’s pollution liability (CPL) coverage and professional liability (PL) coverage for environmental and errors and omissions exposures faced by construction, service, trade, and artisan contractors.
Why does your business need Trade Contractors Pollution and Professional Liability coverage?
- A client was incurring significant fees for their use of emergency response contractors, who often charged higher fees for after-hours responses and for clients that didn’t have a pre-negotiated contract
- A large commercial contractor client pursues and bids on numerous projects as standard practice. To be competitive in the time-sensitive bidding process, the client requires accurate and expeditious insurance cost estimating
What does Trade Contractors Pollution and Professional Liability cover?
TCP2 helps minimize loss from pollution resulting from covered operations and/or claims because of a negligent error or omission in the rendering of professional services.
- Contractors Pollution Liability
- Completed operations and transportation included in definition of covered operations
- Microbial matter and Legionella Pneumophila included in definition of pollution conditions
- Separate defence of $1M or more, including the option for unlimited defence options
- Non-owned disposal site coverage
- Supplemental coverages, including emergency response cost at CPL policy limit — no requirement for third-party claim or written demand; and pre-claim circumstance expense to help prevent or avoid a loss
- Professional Liability
- Mitigation expense included
- Contingent Retained Professional Loss included
- Contractor’s Pollution Liability: limits up to $50M; occurrence-based coverage
- Professional Liability: limits up to $10M; claims-made coverage
- Annual policy term
- Minimum premium of $2,500 for CPL and $1,500 for professional liability
The AIG Advantage
- Employs experienced underwriters who leverage AIG's 35+ years of environmental market knowledge and expertise to write flexible, high-quality coverage solutions with tight turnaround deadlines (when necessary)
- Specializes in writing policies for contractors with annual revenues under $20M and provides rapid, efficient response to all inquiries
- Works with dedicated engineers with years of insurance and environmental consulting experience to assist underwriters with risk management program evaluation
- Assists with crisis management, access to pre-vetted 24/7 emergency response contractors, and cost control via the Pollution Incident and Environmental Response (PIER) Program® and CrisisResponse®
- Assigns in-house, industry-focused claims professionals to provide dedicated, expert guidance and prompt resolutions