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CMAA Names Chubb Preferred Professional Liability Insurer for Construction Managers

WARREN, NJ, November 8, 2010 — The Construction Management Association of America (CMAA) has endorsed the Chubb Group of Insurance Companies as a preferred professional liability insurance provider for its members. Chubb will offer a specially tailored policy, Construction Managers Errors & Omissions Liability Insurance, to CMAA member firms and sole proprietors with up to $10 million in fees.

The Chubb policy, which will help protect construction managers against the costs associated with a liability lawsuit resulting from errors, omissions or negligence in providing a service, is available through Ames & Gough Insurance, the CMAA’s endorsed insurance agency partner. Where permitted by law, construction managers who successfully complete the CMAA’s Construction Management Standards of Practice training and earn the professional designation of Certified Construction Manager (CCM) are eligible for a 10 percent discount on the cost of the policy. In addition, these members must place CCMs in key management positions or commit to having CCMs involved on all their construction projects.

“We are pleased to make this new benefit available to our members who, by adhering to our standards, already are reducing their projects’ risk exposure,” said Bruce D’Agostino, president and chief executive officer, CMAA. “It is a big milestone to have a leading national insurance company, after careful consideration, formally declare that professionalism and certification make a difference in project performance.”

“We are thrilled to receive this recommendation of Chubb’s capabilities from a preeminent construction managers industry association,” said Michael Phillips, vice president and miscellaneous professional liability product manager, Chubb Specialty Insurance. “CMAA members represent among the most professional construction managers in the industry. We look forward to serving their needs through customized insurance and loss prevention programs.”

Mike Herlihy, executive vice president, Ames & Gough, said, “We are delighted to provide coverage to construction managers who provide the highest level of professionalism and performance and are committed to controlling and minimizing risks associated with construction projects.”

CMAA is North America's only organization dedicated exclusively to the interests of the professional construction and program management industry. On behalf of its 27 regional chapters and more than 6,400 public and private organizations and individuals throughout the nation, CMAA promotes professionalism in the construction management industry and provides resources, advocacy, professional development, certification, and business opportunities to its members.

Ames & Gough is a specialty insurance brokerage founded in 1991. Its partners have an average of more than 26 years of experience in professional liability insurance and risk management. Ames & Gough serves clients domiciled in 50 states and consults on risk and insurance issues around the world. Contact mherlihy@amesgough.com or frailey@amesgough.com for further information.

The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb’s global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia. For more information, visit www.chubb.com.