We regret to advise that, effective immediately, we are discontinuing offering coverage in the NY Construction marketplace. Unfavorable loss development and claim trends, combined with a marketplace crowded with new ventures, has made achieving acceptable returns improbable, and as such we are withdrawing the product at this time.
We will do our best to make our exit as painless for you as possible:
We will honor any outstanding quotes but we are no longer accepting any new business
We will offer renewal quotes for accounts expiring prior to 7/1/22
Non-renewal notices will be sent out on accounts expiring on or after 7/1/22
We apologize for the inconvenience, and thank you for your support of our product over the past eight years.
Chicago, ILAtlanta, GA Glastonbury, CTHamilton Square, NJ Los Angeles, CA Medford, OR Minneapolis, MN Naperville, IL New York, NY Omaha, NE Philadelphia, PA Scottsdale, AZSolvang, CA Walnut Creek, CA
Products and services described above are provided through various surplus lines insurance company subsidiaries of W. R. Berkley Corporation and offered through licensed surplus lines brokers. Not all products and services may be available in all jurisdictions, and the coverage provided by any insurer is subject to the actual terms and conditions of the policies issued. Surplus lines insurance carriers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
Vela Insurance Services conducts business as Vela Insurance Services, LLC in California as a licensed surplus lines broker (License Number 0C94218).
Chicago, IL