.cls-1,.cls-2{fill:#fff;}.cls-1{fill-rule:evenodd;}Optio_Cove_Horizontal_White_RGB Subcontractor Default Insurance is a highly specialized product providing coverage to general contractors for direct and indirect costs of subcontractor defaults. Our SDI product is aimed at general contractors with annual volumes of $50 million to $2 Billion of annual construction value. SDI was developed as a response to GC’s issues with subcontractor bonds and the delays and lack of control when a default happens. SDI puts the general contractor in control of any subcontractor default allowing it to make decisions in the best interests of the project. We meet with every GC’s key management team to understand their business processes and design the best possible program for their business. THE COVE PRODUCT Indemnification coverage 2 year policy term available plus extended warranty period Each Default Limit of $50,000,000 Policy Aggregate Limit of $100,000,000 Indirect Cost Limit of $5,000,000 Project Specific GC’s interest only Rolling, multi project – defined project portfolio Annual (or multi-year) Practice, GC’s or Owners Interest if owner performs the functions of a GC Minimum SIR of $500,000 and 10% co-pay THE COVE COMMERCIAL CLIENT Annual volumes of at least $50 million Commercial General Contractors Apartments are eligible including condominium conversions Industrial/Mfg. Office/Retail Structures Infrastructure/Street and Roads Transportation Light commercial Healthcare facilities Government offices and facilities Educational structures/schools/religious For sale residential by non-affiliated general contractor Please click here for Ten Reasons To Choose Cove: SDI Please click here for information on Cove Claims. CONTACT A SPECIALIST GEORGE DALE T: +1 310 488 5481 More Information NATHAN ESPE M: +1 612 751 7287 More Information JOHN FITZGERALD T: +1 561 309 6774 More Information TIM MITCHELL T: +1 949 636 5785 More Information JEFF NOLAN T: +1 916 882 3744 More Information TODD ROWLAND T: +1 530 370 0187 More Information COLE WESTERHOLM T: +1 818 515 6954 More Information For more key contacts, please see our people Cove Programs Insurance Services LLC 515 South Flower Street 18th and 19th Floors Los Angeles CA 90071 Cove Program Underwriting 10th Floor, 1 Minster Court Mincing Lane London EC3R 7AA Cove Program Underwriting, a trading name of Optio Underwriting Ltd. © 2021 Optio Underwriting Ltd. Terms and Conditions Privacy Policy Cookie Policy We use cookies to ensure you get the best experience on our website. Read our Cookie Policy for more information. OKAY, CONTINUE