Builders Risk Coverage Enhancements, September 30

Sep 20, 2017

In response to the needs of you and your clients, US Assure is excited to announce the offering of new additional and optional coverage enhancements for residential and commercial risks effective September 30, 2017, in states across the U.S.: AL, AK, AR, AZ, CO, CT, DC, DE, FL, GA, HI, IA, IN, KS, KY, MD, ME, MI, MN, MS, MO, NC, ND, NE, NH, NJ, NM, NV, OH, OK, PA, RI, SC, SD, TN, TX, UT, VA, WA, WI, WV, WY. 

In addition to the comprehensive coverage already available through the Builders Risk Plan insured by Zurich, you will have the ability to secure the following new coverages for nearly all residential and commercial risks valued up to $75 million, whether issued online or through our manual underwriting process with a dedicated underwriter: 

  • Claim Preparation Expense
  • Contract Penalties
  • Equipment Breakdown
  • Water Intrusion (Rain, Snow, Ice or Sleet)
  • Testing

The following optional coverages will also be available for commercial risks when working directly with your underwriter to secure the account:

  • Claim Preparation Expense
  • Contract Penalties

Policies with effective dates of September 30, 2017, and beyond can be enhanced with these new additional and optional coverages. Previously, many of these coverages were either not offered or were only available for commercial projects issued through our manual underwriting process.

Coverage availability may vary by state for residential and commercial risks until the rollout of these enhancements is complete.

Find Out More: To learn the specifications and conditions of these coverages, our policy forms are available to review when you log in. Locate My Policies in the top navigation bar and then select Forms Library.

Many of these new coverage additions will allow you the option to access, endorse and renew more enhanced commercial policies online. Additionally, your mortgagee client will be pleased to see their name can now be endorsed and listed on the policy for residential and commercial risks, whether issued manually or through our automated system. Soft Cost completion dates have been adjusted as well, to accommodate change orders that may occur.

We’re here to help. Should you have questions about these product enhancements, our dedicated team of more than 50+ specialists is available at (800) 800 – 3907.

 

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