CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, today announced the launch of a new insurance solution designed to meet the evolving needs of contractors of all sizes with flexibility and protection in mind.
Historically, Canadian contractors have struggled to find consistent market options for E&O cover, usually buying a limited bolt-on to General Liability policies. The launch of CFC’s standalone Contractor’s E&O policy offers higher limits and broader coverage than typical add-ons, ensuring peace of mind in today’s complex liability landscape.
“Construction is one of the biggest single employment sectors in Canada, with annual mega projects set to dramatically increase in the next 5 years. Current CCDC regulations mean contractors are increasingly required to have comprehensive E&O cover to protect against a variety of emerging exposures,” says CFC’s Canada Professions Practice Leader, Nathan McCabe.
We’ve spent time listening to what our brokers tell us their clients need. The launch of our new solution covers regulatory requirements for larger contractors while also bridging the gap for smaller businesses that need access to cost efficient, broad E&O cover. Nathan McCabe, Canada Professions Practice Leader
Focused on the day-to-day exposures faced by general contractors and artisan contractors, CFC’s new solution combines E&O with cyber, pollution liability, and professional services protection all under one policy, reducing potential gaps in cover that may previously have been uninsured.
It contains unique features like rectification cost cover—often excluded in other policies—meaning any act, error or omission made by the insured can be rectified before escalating into a more serious claim.
CFC’s solution starts at $500, providing a more accessible option for contractors who may not have previously considered their E&O exposures or the potential impact of an uncovered claim.
Policyholders also benefit from cyber protection which includes proactive threat intelligence, security alerts and bespoke risk management services, all provided free of charge as part of the premium and delivered direct to policyholders through CFC’s award-winning mobile app, Response.
For more information about CFC’s new solution, click here.
