QBE Adds Inland Marine Property Coverage for Construction Risks

May 25, 2018

QBE North America is continuing its inland marine product expansion with the launch of The Solution for Builder’s Risk, a comprehensive policy offering with coverages tailored for construction projects.

Features of this new product include capacity up to $250 million as well as standard and additional coverages for the insured’s specific risk, including utility service interruption, inflation protection, business personal property, waterborne property and equipment breakdown coverage (including testing).

In addition, QBE offers a full range of insurance for time element coverage, including loss of business income, delay penalties and additional expenses incurred by the insured.

The policy will be written by the company’s Inland Marine underwriters on a monoline basis through QBE-appointed producers in the retail and wholesale distribution channels. QBE’s underwriters will help build customized insurance programs to fit any size and type of project from new construction to renovations. In addition, QBE’s in-house specialty claims adjustors offer industry specialization, product expertise and a pre- and post-loss commitment to customer service.

QBE North America, an integrated specialist insurer, is part of QBE Insurance Group Limited. Headquartered in Sydney, Australia, QBE operates out of 31 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries. The actual terms and coverage for all lines of business are subject to the language of the policies as issued.

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