Insurance Built Around Complex Construction Risks
Chaim Retek of GNP Brokerage
A general contractor lands a major project in Manhattan — 80 floors, condominium work, multiple subcontractors, jobs averaging $10 million each. The work is complicated. The insurance needs to match.
Standard liability won’t cover finished work that gets damaged before completion. Basic policies may exclude pollution exposure from water or mold. Without the right structure, a single claim can cost far more than the premium saved.
That’s the space where GNP Brokerage works. The firm specializes in construction insurance for high-risk projects across New York and beyond, led by partners Chaim Retek, Chaim Goldberger, and Shaya Retek.
With nearly 90 employees across three offices and more than 20 brokers, GNP focuses on complex cases. A contractor working on high-rise condominium projects may need installation coverage for completed work, pollution liability for water or mold damage, professional liability, and construction defect policies — protection that goes far beyond basic liability.
“Some people say, ‘I’m only doing simple work,’” Chaim Retek said. “I gravitated to complicated. Complicated needs a good solution.”
That approach starts with understanding, not selling. “We’re not in the convincing business,” Chaim explained. “When you understand the client’s situation and the industry, you can explain what they actually need.” Listening and observing, he noted, is the foundation. “You really need to understand the industry.”
GNP builds that expertise internally through bi-weekly training sessions. The partners or visiting insurance carriers lead meetings where brokers learn coverage options, industry risks, and how to structure policies for specific exposures. Each division — construction, healthcare, real estate — develops deep familiarity with the challenges in its field.
The company has exhibited at OJBA since the show began. During last year’s expo, a client who provides payroll services stopped by the booth to praise one of GNP’s brokers… sharing how many referrals he’d sent because of his experience. “I know I can send my clients to you,” he told Chaim. “He’ll take care of them.”
Those moments happen throughout the show. Existing clients visit, conversations restart, and new connections form naturally when people see those relationships in action. “Business brings business,” Chaim said. “When clients are standing at the booth, new relationships start right there.”
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