https://completemarkets.com/Pages/Discussion/dtopic/4oxAe8qpv0Wgn6y8AMO9vA/High-Value-Homeowner-renovation-and-Chubb-Cancelling/
Hello Peers
We currently write a High Value Homeowner in TX with Chubb. They are undergoing a 120 day renovation project, the contract for which includes a mutual waiver of subrogation clause. Chubb requested the contract when we asked for improvements to be added to the policy, and now they want OFF the policy altogether, because of the WOS Clause. Contractor said that this standard verbiage in all their contracts and this is the first time this issue came up. Other Carriers will not accept the risk while renovation is going on. Any advise on how to handle this?
Veronica Ventura
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