NYC Contractor Insurance: Meeting GC Contract Requirements
Reading Time: 7 minutesTo bid New York City work, most subcontractors need general liability with additional insured status for ongoing and completed operations, primary and noncontributory wording, a waiver of subrogation, and an umbrella or excess layer of $5M to $10M or more. General contractors set those terms because New York Labor Law §240, the Scaffold Law, places […]
How Much Excess Liability Does a Real Estate Portfolio Need?
Reading Time: 7 minutesMost mid-size real estate portfolios now carry $25M to $50M of excess liability, and large multifamily or mixed-use owners often go to $100M or more. The reason is verdict size: Zurich reports 135 corporate verdicts above $10M in 2024, plus 49 above $100M. Premises liability is one of the most common sources, and those awards […]