PAUL DAVIS RESTORATION, INC REQUIRED AND RECOMMENDED INSURANCE SPECIFICATIONS FOR PDR AND PDES FRANCHISES All franchises are required or recommended to purchase the insurances listed below. These requirements are necessary to provide you, your customers, and PDRI with solid insurance protection. The coverage must be in place prior to you opening your franchise for new franchisees, and at all renewals. Insurance companies must have an A.M. Best Rating of A- or higher. The limits described in these specifications are minimum coverage limits and you may insure at higher limits if you so choose. There are also other types of insurance policies that you may want to consider in order to protect yourself in today s litigious society. We recommend that you discuss your insurance needs with The Paul Davis Team within The Loomis Company at 866-891-7241 or email them at pauldavis@loomisco.com. General Liability: Occurrence policy ISO CG0001 most recently approved version or equivalent $1,000,000 limit Each Occurrence $2,000,000 Aggregate an additional $1,000,000 aggregate is required for each owned franchise that is included on the same policy. This can be provided through an Umbrella/Excess Liability policy. Premises & Operations Liability Products & Completed Operations Liability Contractual Liability with no employee exclusion Blanket Waiver of Subrogation for Additional Insureds Required for Alacrity Only Primary & Non-Contributory coverage for Additional Insureds Completed Operations coverage for Additional Insureds No restriction on the scope of operations usual to a PDR or PDES franchise No exclusions for claims from additions or remodeling projects No residential or habitational exclusion Defense in excess of limits Per location/job aggregate No restriction on coverage for work performed by sub-contractors Maximum deductible - $10,000 for franchises with annual sales under $5 Million Contractor Pollution Liability (CPL), including mold: $1,000,000 Liability limit Each Pollution Event $2,000,000 Aggregate if you have an Umbrella policy that does not go over the CPL, then a $3,000,000 Liability limit is required. The CPL policy can be written on an occurrence form or a Claims Made form. If Claims Made, the retroactive date must coincide with the start date of your franchise or the expiration date of your previous occurrence form. All services offered by the franchise, including remodeling, must be covered.
1/3/2014 There shall be no exclusions for losses related to lead, silica, asbestos, or contaminated drywall. EFIS may not be excluded for restoration work. No restriction on the scope of operations usual to a PDR or PDES franchise Products & Completed Operations Liability Contractual Liability with no employee exclusion No restriction on coverage for work performed by sub-contractors Primary & Non-Contributory coverage Coverage for transportation of materials is to be included Mold and Bacteria Coverage is to be included and cannot have sub limits. Mold can be written on a claims-made or occurrence form. If claims-made, the retroactive date must coincide with the start of your franchise or the last expiration date of your previous occurrence form. No exclusions for claims from additions or remodeling projects No Impaired Property exclusion Maximum deductible - $10,000 for franchises with annual sales under $5 Million Auto Liability: $1,000,000 Combined Single Limit of liability per occurrence $50,000 Uninsured/Underinsured motorists Liability should be written for any auto Symbol 1, or could be written with a combination of Symbols 2, 8, and 9 so that coverage is provided for all owned, autos, hired, and non-owned autos. Workers Compensation & Employers Liability is required Employer s Liability limits of $500,000/500,000/500,000 Stop Gap as required in Monopolistic states Umbrella/Excess Liability: $2,000,000 limit Each Occurrence $2,000,000 Aggregate Must provide excess liability over the General Liability, Pollution Liability with mold (CPL), Auto Liability and Employer s Liability. If this policy cannot provide excess over the CPL then the CPL must have a $3,000,000 limit Maximum deductible/self-insured retention $50,000 Bailees (Personal Property of Others) / $250,000 minimum limit for personal property of others in your care, custody or control. Must include scheduled, unscheduled locations and while in transit. Higher limits may be needed depending on the value of client s goods that you are storing.
Optional coverages: Professional Liability, Installation Floater, Inland Marine If you are providing estimates, appraisals, lead, asbestos, or mold testing and DO NOT plan to do the mitigation or reconstruction on the same loss, your General Liability coverages do not cover you for the above activities and it is recommended that you obtain Professional Liability coverage. Professional Liability coverage must be provided to comply with work the franchisee performs under the Federal guidelines. If your insurer will not allow the coverage to be included on the Pollution policy, a separate policy will suffice but must be for the same coverage limits as the Contractor s Pollution policy. Additional Insured coverage as indicated in the above sections An installation floater is an inland marine-type coverage that can be defined as insurance purchased by contractors to cover not only their own property but also property of others that is to be installed into a building or structure. This floater covers the risk of loss while in transit and in the process of rigging, often with some limitations. For PDRs only, Installation Floater of $10,000 or higher Inland Marine Contractors Equipment - $50,000 minimum is recommended. Higher limits needed depending on value of all equipment you own Paul Davis Insurance Program Contact Reference Sheet 866.891.7241 Service Team Number pauldavis@loomisco.com Service Team Email www.loomisco.com/paul-davis - Online Submission System Dan Glover Kelli Miller Vice President Account Executive 484-334-6997 direct 610-741-1137 610-764-6261 cell 610-374-4040 ext 2247
Certificates of Insurance MyCOI has been contracted by PDRI to manage the Certificate of insurance process for PDRI, CSI and all PDRI program accounts. Certificates for all required liability policies for all additional insureds should be uploaded to mycoi by your insurance agents. Registration to MyCOI is required to participate on national accounts. For start up franchises, jmurray@pdrestoration.com process. (Julie Murray) will assist in the All required Certificates are noted below: Paul Davis Restoration, Inc, 1 Independent Drive, Suite 2300 Jacksonville, FL 32202 An Acord form Certificate of Insurance must be provided to PDRI which reflects all coverage required in this document. Paul Davis Restoration, Inc. must be named an additional insured on all liability policies as the Grantor of Franchise with completed operations coverage included. Wording for PDRI Certificate: Paul Davis Restoration, Inc. additional insured on the General Liability, Automobile Liability, Pollution Liability and Umbrella Liability policies, if required by written contract, and are subject to the terms, conditions and exclusions of the policies. Coverage is provided on a primary and non-contributory basis. General Liability and Pollution Liability include coverage for the additional insured for ongoing operations and completed operations with respect to liability arising out of the insured's work. Other Certificates of Insurance By contract, there are a number of companies that must be listed as additional insureds on all liability policies (see list attached). These entities require that they be named as Additional Insured on a Primary, Non-Contributory basis, including Completed operations. Companies to be listed as Additional Insureds on all Liability policies: Paul Davis Restoration, Inc. 1 Independent Drive, Suite 2300 Jacksonville, FL 32202 Chubb and Son Insurance 14 Mountain View Rd Warren, NJ 07059
Completion Services Inc. One Independent Dr suite 2300 Jacksonville, Fl 32202 First Notice Systems, Inc. dba Innovation Property, it s parents, subsidiaries and affiliates 365 Cadwell Drive Springfield, MA 01104 Liberty Mutual Insurance Companies 175 Berkeley St 02J Boston, MA 02116 Nationwide Mutual Insurance Company One Nationwide Plaza Columbus, OH 43215-2220 Alacrity Services, LLC 360 E. 10 th Ave., Suite 320 Eugene, OR 97401 Crawford Contractor Connection 5022 Gate Parkway, Suite 304 Jacksonville, FL 32256 Hanover Insurance Group Attn: Strategic Sourcing, MS 421 440 Lincoln Street Worcester, MA 01653 Allstate Insurance Company Corporate Headquarters 2775 Sanders Road Northbrook, IL 60062 Fireman s Fund Insurance Company 777 San Marin Drive Novato, CA 94998 Homesite Insurance One Federal St Boston, MA 02110 FOR MASSACHSETTS, NEW JERSEY, NEW YORK AND RHODE ISLAND FRANCHISEES: Narragansett Bay Insurance Company 25 Maple Street Pawtucket, Rhode Island 02860-2104