New Day was authorized to negotiate a Contractor’s Pollution Liability renewal on behalf of a new broker partner.
The incumbent carrier is an experienced market and provided a very competitive program on the expiring program – in terms of premium. But the coverage was mostly ‘off the shelf.’
During renewal negotiations, New Day requested enhancements that are available from the marketplace in general, as well from the incumbent carrier. The result of these negotiations was inclusion of the following in the renewed policy:

• Mold coverage
• Separate limit for defense expenses
• Sudden & accidental ‘site’ pollution coverage for the named insured’s owned/leased locations
• Expanded the covered operations definition to include project estimating and service response.
• Removed the time limit restriction on the Transportation coverage.
• Provided pollution coverage for rented/leased properties in conjunction with projects at/near a jobsite.

And although the premium increased by 2% compared to the expiring policy, that increase was driven mostly by an 18% revenue increase. Overall, a significant rate decrease was realized while the coverage was enhanced.