One of our prior articles explained that it is highly unlikely that a remodeler’s General Liability policy would respond to a lead paint claim. This is due to prevalence of the Absolute Lead Exclusion Endorsement. Instead, remodelers need to look to a Contractors Pollution Liability policy for protection.
We recently had the chance to analyze one of the leading Contractors Pollution Liability forms in the market. Here are some of the highlights of their special policy form designed for remodelers:
(based on test ratings of remodelers in South Carolina)
– Less than $1 million in revenue: $2.55
– $1 million to $2 million in revenue: $1.20
– $3 million plus in revenue: $1.11
Not yet, but demand is expected to increase as word spreads about high profile lawsuits with large settlements or jury awards. The EPA RRP regulation which will create liability for failure to comply with standards is approximately one year old and it takes time for claims to work their way through the legal system. In addition, attorneys specializing in lead paint will begin to educate the public and advertise for clients.
If you are interested in a quote, please contact call Sadler & Company at 800-622-7370 or email us.
3014 Devine St.
P.O. Box 5866
Columbia, SC 29250
1-800-622-7370 Toll Free