Victor O. Schinnerer & Company, an underwriting manager, has expanded its Builders Risk program to now include coverage for commercial construction and commercial and residential remodeling. Brokers can now quote and issue a builder risk policy using Schinnerer’s online broker portal.
According to Jeff Benson, Vice President and Senior Underwriting Manager of Schinnerer’s Builders Risk program, coverage is available for all construction types and most project values.
The expanded program, offered through Navigators Insurance Company, provides insurance to owners and builders of commercial and residential buildings under construction. In addition to the standard policy form, 16 additional coverages are built in, including debris removal, ordinance of law, expediting expenses, soft costs and pollutant clean up and removal.
Coverage is currently available on admitted paper in 38 states and Washington D.C. and on a surplus lines basis for remaining states until state fillings are approved. The Builders Risk program has the ability to consider all project values and offers premiums as low as $400.
Schinnerer distributes its insurance programs through independent agents and brokers. Broker appointments are not typically required unless mandatory by state law.
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