Bala Cynwyd, PA - December 17, 2012 —
Philadelphia Insurance Companies (PHLY), a leading property/casualty and professional liability insurance company for niche markets, now offers insurance coverage specifically designed to protect Restoration Contractors. These companies are typically hired — often by insurance companies — to clean up and restore property following a fire, flood or other damage.
The frequency and severity of convective storms is leading to greater demand for the services of Restoration Contractors. Businesses in this industry looking for auto, environmental and other specialty insurance protection often seek coverage through multiple carriers. PHLY’s new product conveniently offers these coverages in one source, backed by an A.M. Best "A++" rating.
"We’re able to offer Restoration Contractors a one-stop solution for their unique coverage needs," commented Mark Plousis, Vice President of Underwriting for Philadelphia Insurance Companies. "Weather volatility is leading to high demand for the services of Restoration Contractors and our previous experience writing environmental and auto coverage for this market led us to expand coverage options for businesses in this industry."
The comprehensive policy includes general liability, property, auto, environmental, crime and fidelity, inland marine, and Bailees (property of others) coverage. PHLY provides added auto coverage benefits including zero deductible for auto glass, towing coverage, and lease gap protection. The coverage is admitted in all states except Louisiana. Environmental is available on a non-admitted basis.
For more information on this insurance coverage, visit the Restoration Contractors page on phly.com. Businesses looking to obtain coverage from Philadelphia Insurance Companies should contact their independent insurance agent or a PHLY sales representative directly at 800-873-4552.
About Philadelphia Insurance
Philadelphia Insurance Companies designs, markets and underwrites commercial property/casualty and professional liability insurance products incorporating value added coverages and services for select industries. Celebrating its 50th anniversary in 2012, the Company, whose commercial lines insurance subsidiaries are rated "A++" (Superior) by A.M. Best Company and "A+" for counterparty credit and financial strength by Standard & Poor’s, is nationally recognized as a member of Ward's Top 50 and National Underwriter’s Top 100. The organization has 45 offices strategically located across the United States to provide superior service. For more information, please visit www.PHLY.com
Philadelphia Insurance Companies is the marketing name for the property casualty insurance operations of Philadelphia Consolidated Holding Corp., a Member of the Tokio Marine Group. In the United States, all products are written by insurance company subsidiaries of Philadelphia Consolidated Holding Corp. Coverage may not be available in all jurisdictions and is subject to actual policy language. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. Non-insurance products and services may be provided by independent third parties.