Owner’s Interest

Slice E&S Owner’s Interest Policy (OIP) is purchased by the property owner who is working with a general contractor regarding interior renovation, addition, or new construction of their project. This policy covers the property owner during construction for vicarious liability and excess of what the general contractor’s construction policy will cover.

TARGET EXPOSURES

• Minimum premium as low as $3,000 depending on the scope of work, term, costs, project state and hazards
• Target projects up to $100M
• Target structures up to six stories, larger risks can be considered on a selective case by case basis
• Project appetite is three to 24 months, longer projects may be considered dependent on the length and project description.
• Extended completed operations available per statute of limitations
• Projects can be new construction and retrofit/additions
• Commercial projects
• Residential appetite is limited to residential apartments and single family homes
• 1/2/2 primary limits, with excess capabilities

UNACCEPTABLE EXPOSURES:

• Residential work including tracts, condos, or co-ops
• Wrap-ups (OCIPS/ CCIPS)
• Property Coverage for Builder’s Risk
• Operations in the State of New York and Louisiana
• Occupied structures

SUBMISSION REQUIREMENTS:

• Completed applications including Owner’s Interest supplemental
• Contract/Agreement including indemnification provision between owner and General Contractor (GC)
• Confirmation of GC’s Coverage including limits which must be equal to or greater than our limits
• Receipt of GC’s loss runs preferred

ALSO AVAILABLE UNDER SEPARATE COVER:

Environmental

• Contractors Environmental Coverage
• Minimum premium $1,500
• Maximum capacity $2,000,000
• Policy terms up to 2 years

Excess

• Excess maximum capacity $5,000,000
• Lead Umbrella and Excess placement
• Supported and Unsupported capabilities