Construction & Bonding
No one knows bonding and construction insurance like Stevenson & Hunt.
You can’t afford mistakes or delays in meeting your compliance conditions for important bids. We are leading experts in analyzing bid and contract requirements and are committed to ensuring your project’s success.
- Bid bonds and agreements to bond
- Performance bonds
- Miscellaneous commercial bonds e.g. lost document
- Labour & material
- Final bonds
- Environmental bonds
- Additional insured, indemnification and hold-harmless clauses
- Contractor's Environmental Insurance
- Builder's Risk Insurance
- Wrap-up Liability
We represent and have power-of–attorney with all major surety companies. We maintain a full underwriting file, which allows our surety experts to work closely with you to:
- Develop strategies to maximize your bonding capacity.
- Achieve the best terms for your indemnity agreements and competitive rates.
Builder's Risk Insurance - What is it? Who needs it?
While standard commercial property policies are designed to insure the building, equipment and stock of an on-going business, they do not provide coverage for the many unique exposures associated with buildings in the course of construction. Coverage provided with Builder’s Risk Insurance is therefore necessary.
- All materials owned by the insured or others that will form part of the completed project
- Temporary buildings
- Site work
Coverage under a Builder’s Risk Policy commences as soon as site-work begins, regardless of how incidental the work might be perceived. Coverage ceases when the building comes into use or becomes occupied.
Extensions of coverage for transit and temporary locations for storage of materials that will become part of completed project are available. Specialized coverage for delayed start up, expediting expenses and soft costs is also available.
Stevenson & Hunt has a proprietary in house Builder’s Risk program that allows us the flexibility of giving you terms and pricing for your jobs within a matter of hours. We handle all the issuance and binding so your timelines are the ones that dictate our response. We offer competitive pricing and terms for both owner and contractor controlled projects.
Design-Build - providing coverage for costs stemming from claims alleging flaws in design
As market competition heats up, one of the ways in which contractors look to increase their competitive advantage is by offering Design-Build services. While Commercial General Liability provides coverage for on site construction mistakes and accidents, it does not provide coverage for costs stemming from claims alleging flaws in design.
Many builders opt not to carry Design-Build coverage, as they think it is too expensive. However, if a property owner comes back to the designer with allegations of flaws in design, repair work can be large in scope and cost. The benefits of Design-Build coverage far exceed the cost - it helps contractors cover repair costs and provides them with specialized legal representation, well-versed in this type of law, to handle such claims.
We are very experienced in the area of Design-Build and represent all the major specialist insurers in this field.
Wrap-up Liability - removing the need for blame allocation
The name of this coverage speaks for its purpose – it “wraps up” the liability coverage for all general and sub contractors to a project under one insurance policy. Most often used to assist owners or general contractors with overall project risk management, Wrap-up Liability ensures all parties are adequately insured for the risks presented.
With Wrap-up liability protection, the claims handling process is consolidated between the project owner and claimant, thereby increasing the turnaround time for claim settlement.
Stevenson & Hunt deals with placement of Wrap-Up liability on a regular basis and understand the importance of getting you the right coverage as soon as possible.
* The information provided is for information purposes only. In case of inconsistency between this information and the policy, the policy terms, conditions and limitations will govern.