Illinois Could Be The Next Trouble Spot for Contractors Illinois could be the next hot spot for coverage problems in the contractors liability insurance market if a law that was erased from state statutes back in 1994 is reinstated.

The law in question resembles one thats still in place in New York, an area of the country where surplus lines brokers say the problems are serious.

"I think New York is the only state that has a law like this, which predates the workers' compensation laws," said Kurt Bingeman, president of Russell Bond & Co. in Buffalo, N.Y., who called the coverage environment in his state difficult. "Its sort of archaic," he said, referring to Sections 240 and 241 of the New York State labor law.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.