Investor Buying and Flipping Homes(GL)
Posted: Thu Mar 11, 2010 7:07 pm
I am looking for GL coverage for an Investor that is buying and flipping houses using licensed and insured contractors.
It appears he is currently bare as regards the Products/Completed Ops exposure and the first 2 quotes, from First Mercury and one other carrier are unwilling to offer the Prod/Comp Ops coverage.
Any thoughts?
My concern would be that he sells a home that later burns due to the faulty work of an electrician he hired(just an example) and the electrician is out of business, insurance has lapsed, whatever. If he is sued how large is this hole in his program?
It appears he is currently bare as regards the Products/Completed Ops exposure and the first 2 quotes, from First Mercury and one other carrier are unwilling to offer the Prod/Comp Ops coverage.
Any thoughts?
My concern would be that he sells a home that later burns due to the faulty work of an electrician he hired(just an example) and the electrician is out of business, insurance has lapsed, whatever. If he is sued how large is this hole in his program?