Client Profile
Industry: Construction
Specialty:  Large Commercial Construction Company​
Location: Tennessee
Claim Information
Description:  One of our Insureds was under contract to construct a multi-family apartment complex. Due to factors outside of the Insured’s control, the job was unable to be completed by the required completion date and Liquidated Damages were assessed per the contract. Through their Captive's Actual Net Loss Insurance Policy " Liquidated Damages" coverage, our Insured was able to receive reimbursement for the lost expense.
Line of Coverage:  Liquidated Damages
This exposure was elected for coverage by the client under their Captive Policy. This resulted in a claim payment amount of approximately $300,000.