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Property insurance policies for the most part contain a provision excluding coverage for flood damage. What's more, coverage for other types of water damage, such as seepage and sewer back-up can be excluded. Coverage for Flood insurance is available through the National Flood Insurance Program (NFIP). The NFIP is constantly under fire in Congress for funding, with the entire issue of Flood insurance in the spotlight every year. Please see National Flood Insurance Program (NFIP).
Insurance Industry News from ProgramBusiness.comTravelers Construction Launched New IndustryEdge® Product for Tile Contractors
Driven in part by a growing preference for ceramic tile, demand for hard surface flooring products in the U.S. is forecast to increase 4.6 percent annually to 9.6 billion square feet in 2013. As tile contractors work to keep pace with the increasing need for their specialty services, Travelers Construction Insurance developed a new IndustryEdge® product for Tile Contractors to help manage the need for additional insurance coverage and related services.
"Travelers Construction recognizes that tile contractors face inherent risks and that they require specific insurance solutions to better manage their overall cost of risk," said Bill Teed, President, Travelers Construction. "Utilizing our experience working with contractors of all types and sizes, we uncovered a demand for specialized insurance coverages and services designed just for tile contractors."
From the insurance coverages that address Commercial General Liability, Workers Compensation, Umbrella, Contractors Pollution Liability, and Contractors Professional Liability, among others, to the industry-tailored Risk Control and Claim services, the new IndustryEdge® products provide a total account solution. Additionally, Travelers offers its customers Inland Marine specific products and services, such as Builders' Risk and Installation coverages.
To help tile contractors meet today's risk management and safety challenges, Travelers Risk Control provides Construction TravSourcesSM, a collection of safety and risk management resources focused on the construction industry. Travelers Risk Control specialists have the experience necessary to help tile contractors address the specific hazards and exposures related to their business, such as the many manual material handling demands that tile contractors face day in and day out.
In the event of a loss or injury, tile contractors will benefit from Travelers experienced Construction Claim staff who specialize in handling contractor claims. Repetitive use, soft tissue and strain injuries are common occurrences for tile contractors, presenting significant exposure if not managed properly. To help contractors manage these and other claims, Travelers makes available TravComp®, a state of the art claims technology with the industry-focused expertise of local claims and medical professionals to facilitate the best outcomes. With TravComp®, contractors will have access to 24-hour claim reporting, a broad network of medical professionals and the industry's first injured worker website, all features that play a role in helping to keep total loss costs under control.
Teed added, "We created these IndustryEdge® products to help our independent agents better sell our comprehensive package of coverages and services to tile contractors and to be seen as knowledgeable, trusted advisors to their customers in the construction industry."
Travelers Construction is on the leading edge of industry changes, anticipating emerging risks and customer needs. For more information on the IndustryEdge product for Tile Contractors, contact Judy Barrett, (860) 277-8379 or firstname.lastname@example.org.Click for the whole story...