I am the CFO for a general contractor in Pennsylvania and would appreciate hearing how other GCs are handling subcontractor insurance documentation after project completion.
I have received conflicting guidance regarding how long we should continue to retain Certificates of Insurance (COIs) and related insurance documentation. One recommendation I've received is to maintain subcontractor COIs for 12 years after substantial completion to align with Pennsylvania's statute of repose.
I'm curious what others are doing in practice:
- How long are you retaining subcontractor COIs and insurance documentation?
- Are you also retaining Additional Insured, Primary & Non-Contributory, and Waiver of Subrogation endorsements?
- Do you obtain and retain copies of the subcontractor's full insurance policies, or are COIs and endorsements sufficient?
- Have your insurance brokers, carriers, or legal counsel recommended a specific retention period or best practice?
I'd appreciate any insight into what your company has adopted and the reasoning behind it. Thank you in advance for sharing your experience.
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Jeanne Curran
W. S. Cumby
Springfield PA
(610) 299-5294ControllerController
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