builders risk News

USI Insurance Services Launches Builder’s Risk Program

USI Insurance Services has launched a new builder’s risk program that provides broader coverage for all project types and sizes, with capacity for frame and renovation projects, including catastrophic perils. This is designed to be an alternative for owners and …

Schinnerer Introduces Residential Builders’ Risk Program

Underwriting manager Victor O. Schinnerer & Co. has launched a new residential builders’ risk program. Schinnerer will serve as a program access point for retail agents and brokers. The inland marine line of coverage, offered on admitted paper through Arch …

Berkshire Hathaway Specialty Expands into Builder’s Risk Segment

Berkshire Hathaway Specialty Insurance (BHSI) is expanding its property capabilities to include builder’s risk insurance. The company also named Robert Tricamo to head the new specialty property area as vice president, Construction. “These new capabilities enable us to round out …

ProSight Specialty Launches “Pay as you Build” Builders Reporting Policy

ProSight Specialty Insurance, a global insurance group in the construction industry, has launched a new product that will provide residential and commercial contractors with additional cash flow through a “payas you build” feature with a low deposit premium called Builders …

HCC Insurance Holdings Launches Construction Property Risks Division

HCC Insurance Holdings, Inc. has expanded into builder’s risk insurance with the launch of its new Construction Property Risks Division. The new division will be based in New York and be led by Francis P. Tricamo, Sr. Tricamo has over …

Travelers Launches New Construction Pak- Builders’ Risk Product

Travelers has introduced Construction Pak – Builders’ Risk, an enhanced product to help construction projects of all sizes and types stay on schedule. From standard construction to complex undertakings such as highway projects, stadiums and high-rise buildings, the enhanced builders’ …

XL Group Launches New Builders Risk Property Protection Program

XL Group has launched a new Builder’s Risk and Installation Coverage Solutions (BRICS) product, containing more than two dozen coverage enhancements. The coverage offers property insurance protection for single projects or multiple jobsites in North America. According to Alexander McGinley, …

AIR Worldwide Now Offering Builder’s Risk Capability

AIR Worldwide (AIR) has expanded its offerings for commercial insurers with a capability for determining losses from natural catastrophes to buildings under construction. CLASIC/2Version 14.0 introduces the ability to model builder’s risk policies for the AIR earthquake and hurricane models …

ACE Launches New Builders’ Risk Product

ACE USA has developed the ACE Construction Risk coverage form for general contractors, developers and owners with ongoing construction needs. It can also be tailored to meet project specific requirements, addressing customers’ potential financial losses stemming from four-wall building projects …

Lexington to Insure Expenses, Delays from Archaeological Findings

Lexington Insurance Co., a Chartis company, has introduced LexArchaeology – first party coverage for expenses and construction completion delay resulting from the unexpected discovery at a construction site of archaeological resources of significant interest. “Last summer, construction workers at the …