(Image source: Dollar Photo Club.)
ProSight Specialty Insurance (New York/Morristown, N.J) has entered into a long-term partnership with Docutrax for subcontractor compliance management. Under terms of the agreement, Docutrax will be responsible to manage, verify and maintain contractual insurance compliance of the subcontractors of ProSight’s nationwide book of general contractor (GC) Construction business.
Under a customized solution provided by Docutrax, general contractors are able to obtain compliance information on the status of all subcontractors in real-time, the vendor reports. State-licensed account managers on the Docutrax team will collect, track, audit contracts and policies, check for exclusionary language and maintain subcontractor coverages in conformance with ProSight and GC contractual requirements.
“This is a ‘new and improved’ ProSight value for our construction insureds,” comments Jake Morin, Value Creation Executive, ProSight. “If GCs can verify and validate that their subcontractors have the proper insurance coverage—and at the same time—mitigate risk, they can focus their efforts on what they do best.”
The Docutrax solution allows ProSight insureds to signup online, a process that facilitates registration and provides for a quick turnaround between quote and binding, the vendor says. The Docutrax team then handles all activity associated with obtaining the necessary documentation and proper insurance coverage of each of the GCs subcontractors.
Enhanced Risk Control Services
“We are very pleased that ProSight selected Docutrax as its compliance management partner,” comments Martin Mick, CEO of Docutrax. We look forward to assisting ProSight and its insureds to provide enhanced risk control services to this challenging market sector through its new Subcontractor Policy Management program.”