AIU Holdings has introduced ReBuild, a suite of insurance and risk management products for states and municipalities receiving federal stimulus monies from the American Recovery and Reinvestment Act of 2009 funds for use in large infrastructure projects.
ReBuild covers project owners and construction firms engaged in public and private infrastructure construction that can include roads, highways, bridges, tunnels, sewers, water systems, schools, prisons, airports, power facilities and other similar projects.
ReBuild offers clients one point of entry and economies of scale to create customized insurance solutions for these projects. Coverage can include primary and excess casualty, workers’ compensation, builders’ risk, surety, and environmental insurance.
“Customers have expressed a need for a customized risk management approach to the many large, nationwide infrastructure projects being initiated as a result of the American Recovery and Reinvestment Act of 2009,” said Robert Beier, executive vice president of AIU Holdings’ Commercial Insurance division.
ReBuild features include:
- Wrap-ups, primary casualty risk management solutions and workers’ compensation coverage, with limits of $3 million/$5 million;
- Environmental Infrastructure Solutions, which provide contractors and fixed site legal liability pollution and emergency response costs coverage with limits of up to $50 million;
- Up to $250 million in casualty coverage with terms of up to 10 years;
- Access to Lex P-3 Solutions, tailored risk management and insurance products that respond to risks associated with public/private partnerships; and
- Access to Lex Infrastructure Solutions, a suite of insurance coverages tailored for contractors performing bridge and road work in the United States.
In addition, ReBuild can provide clients with up to $25 million in professional liability coverage for architects and engineers and as much as $100 million capacity for builders risk for infrastructure coverage.
The AIU Holdings companies will underwrite and issue policies for clients using ReBuild. The policies will be serviced by a dedicated claims team.
Source: AIU Holdings
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