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Golden Insurance Company, RRG offers the following programs (click on either link for more info.):
Primary Commercial General Liability (CGL)
Golden Insurance Company, RRG offers Primary Commercial General Liability insurance to its members of 1M/1M or 2M/2M limits for Aggregate and Occurrence on a claims-made basis. Products and Completed Operations are included in the Aggregate at 1M limit, as well as Personal and Advertising Injury. Defense costs are inside the limits.
There are key exclusions to the policy which include: Prior Acts Exclusion, Terrorism, Designated Work, Earth Movement or Subsidence & Fungi or Bacteria. Other exclusions are included in the policy form. Please contact Golden’s MGA (Beecher Carlson) or your broker representing Golden for details
Golden Insurance will consider Per Project, Scheduled Project and Premise Liability on a case-by-case basis. Additionally, tail coverage may be purchased at 100% (premium) for 1 year, 200% for 2 years and 400% for 15 years.
Minimum Pure Premiums start at $3500 for most artisan trades and $5000 for General Contractors. Roofers, Plumbers, Welders, Excavators and Swimming Pool Installers are MP $5000. General Contractors are rated on gross annual receipts and artisan trades are rated on payroll.
Significant rate incentives will be given to Builders & General Contractors that enroll in the StrucSure Home Warranty program.
Deductibles can range from $1000 to $25,000 depending on operations, premium size and the needs of the insured. Credits may be offered for higher deductibles at the discretion of the underwriter. Additional credits may be offered for premium size and exceptional loss history.
Blanket additional insured endorsements are offered at 5% (both artisan and general contractors are 5% additional).
A standard 5% Membership fee will be added on top of each pure premium for subscription to the RRG program. In addition, a Policy Fee of either $250 (for premium under 10K) or $500 (over 10K premium) will be charged. Agency fees will be added, as well as applicable state tax.
Policies are 25% earned and financing is available at 25% down plus fees. Financing arrangements have been made with Premium Financing Specialists.
Insured’s must maintain a low claim to premium ratio and provide no loss letter or loss runs on binding. New ventures will be considered with a 1-page resume of work experience.
Underwriting is provided by Beecher Carlson, as Managing General Agent for Golden Insurance Company, RRG.
Excess Liability coverage is available over primary at 1M/1M excess limits. Excess coverage can be offered over the Golden primary liability to reach 2/2 limits or over any A-rated, B-rated, non-rated or RRG program to reach higher limits.
Excess premiums are fully earned and payable in full on binding. Premiums are generally 25% of underlying pure premium with an additional 5% subscription fee. Minimum premiums start at $2,000.
Excess coverage can be bound at anytime during the policy term but follow underlying expiration dates. Prior Acts exclusion does apply.
Golden excess coverage is a claims-made policy form.
Application for excess is available on the Forms page. Should you require an immediate quote please contact 866.831.5464.
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