Liberty Mutual Launches New Builder’s Risk Product

March 28, 2017

Liberty Mutual has launched Premier Protector – Builder’s Risk for large contractors and property owners – and the brokers who serve them – that is designed to help eliminate uncertainties and inconsistencies in coverage.

According to Daniel Feige, division underwriting manager, Inland Marine, the new product allows brokers and customers to tailor coverage for a single construction project, or to develop a master program protecting an entire portfolio with coverage terms that allow for the natural ebb and flow of individual projects.

Many of the coverages available in the new product are options so brokers and customers can work with Liberty Mutual’s inland marine underwriters to tailor each policy to their specific needs.

The policy is supported by Liberty Mutual’s inland marine claims management professionals, as well as its property risk engineers who can help lower the total cost of risk by working to provide information which the policyholder can use to prevent the accidents that cause claims.

Liberty Mutual’s new Premier Protector – Builder’s Risk coverage is best suited to projects with total insured values greater than $50 million.

Other features include:

  • Available limits up to $500 million per project, and up to $200 million for shared and layered
  • Coverage for named storm, earth movement and flood
  • Delay in completion (time element), with income cover for owned projects
  • Master builder’s risk by endorsement with extension of term endorsement to see projects through to completion

Liberty Mutual offers a range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products.

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