"Insurers have their own underwriting protocols and risk appetites, and residential construction — particularly new condo developments and housing subdivisions — is a risk that some insurers do not want to assume," Robert Bambino, of Gramercy Risk Management. (Credit: Michael Moloney/Shutterstock.com)
Building contractors and construction firms face the highest average annual costs for general liability coverage, according to AdvisorSmith Solutions, Inc., which noted even small construction businesses pay average premiums of $1,076 annually.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
