Construction Insurance Built for the Modern Contractor
From ground-breaking to certificate of occupancy — comprehensive programs for general contractors, subcontractors, developers, and specialty trades.
NYC and multi-state construction operations require a broker who understands OCIP programs, certificate compliance, experience modification management, and the evolving nuclear verdict landscape.
Deep Industry Expertise for Construction Businesses
Construction is one of the most complex industries to insure. Between layered subcontractor relationships, owner-controlled insurance programs (OCIPs), wrap-up policies, and the ever-evolving landscape of nuclear verdicts in construction litigation, your broker needs to be a true specialist. Grandbay Financial has spent over 20 years placing construction risks with A-rated carriers who understand the industry. We handle everything from small specialty contractors to large general contractors with multi-state operations — and we bring a risk management approach that goes beyond simply placing a policy.
What We Cover
General Liability
Broad form GL with contractor-specific endorsements, completed operations, and additional insured coverage for project owners and GCs.
Workers Compensation
Competitive WC programs including pay-as-you-go options, experience modification management, and return-to-work programs.
Builders Risk
Course of construction coverage for new builds, renovations, and tenant improvements — including soft costs and delay in completion.
Commercial Auto
Fleet and non-owned auto coverage for contractor vehicles, equipment haulers, and dump trucks operating on and off job sites.
Umbrella / Excess Liability
High-limit umbrella programs to satisfy project owner requirements and protect against catastrophic loss scenarios.
Contractors Equipment
Inland marine coverage for owned, rented, and leased equipment — including tools, machinery, and mobile cranes.
Professional Liability
Design-build and contractor professional liability for firms providing design services alongside construction.
Pollution Liability
Contractors pollution liability (CPL) for excavation, demolition, and remediation contractors with environmental exposure.
Surety Bonds
Bid bonds, performance bonds, and payment bonds for public and private construction projects of all sizes.
Key Exposures We Address
Every construction business faces a unique set of risks. Our specialists identify and mitigate the exposures most likely to impact your operations and financial stability.
What Construction Businesses Face
Claims Scenarios & Outcomes
A general contractor's scaffold system failed during a high-rise renovation project in Manhattan, injuring three workers and a pedestrian below. The project owner, GC, and scaffold subcontractor were all named in the lawsuit.
The GC's GL policy with a $5M per-occurrence limit and $10M umbrella responded. Grandbay's claims advocacy team coordinated defense counsel across all named parties, resulting in a settlement within policy limits.
A residential developer was sued three years after project completion when water intrusion caused significant damage to multiple units. The general contractor's standard GL policy had a completed operations exclusion.
Because Grandbay had structured the program with a separate completed operations endorsement and extended reporting period, the claim was covered. The developer avoided a $2.1M out-of-pocket exposure.
A specialty subcontractor's employee was injured on a job site. The subcontractor had allowed their workers comp policy to lapse. The injured worker sued the general contractor directly.
The GC's WC policy covered the claim as a statutory employer. Grandbay's subcontractor compliance program — which flags lapsed certificates — was subsequently implemented to prevent recurrence.
Construction Insurance FAQs
Ready to Protect Your Construction Business?
Our construction insurance specialists are ready to design a program tailored to your specific operations, exposures, and growth objectives.