Contractor Leverages Technology for
Improved SDI Terms

With a diverse portfolio spanning commercial, public and municipal projects, an employee-owned Atlantic Coast contractor had a track record of delivering highly successful projects. This dynamic company had impressive revenue with ambitious growth plans.

As part of its company goals, the contractor was considering adding subcontractor default insurance (SDI) as part of its risk mitigation strategy to complement the existing procedure of requiring performance bonds from their subcontractors. SDI was attractive because of its ability to provide default protection as well as its ability to become a potential profit center.   

Vetting and building relationships with subcontractors and partners was a major strength for the contractor, which enabled the execution of efficient and high-quality projects. So, it made sense for the contractor to seek an SDI broker who would also bring a relationship-driven approach.

With the desire to explore SDI, the contractor reached out to Procore Risk Advisors, the insurance brokerage that already had a deep understanding of the contractor’s needs and also offered strong partnerships with insurance carriers. By leveraging the contractor’s adoption of the Procore platform, the Procore Risk Advisors team could effectively advocate for the contractor and navigate the placement of a highly structured SDI program. 

Despite facing challenges due to the types of work and project delivery methods utilized, Procore Risk Advisors negotiated aggressively, securing favorable terms and conditions aligned with the contractor's risk management objectives.