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Construction Risk Insurance

ACE Construction Risk insurance provides specialized solutions, experience, financial capacity and underwriting flexibility to meet the insurance needs of commercial and residential contractors and developers with ongoing construction activity. We have the capability to write four wall building projects, as well as engineering-related construction, such as bridges and tunnels.

Benefits:

  • Superior flexibility
  • Capacity in a variety of positions
  • Ability to customize solutions to meet individual client needs
  • Portfolio of green endorsements
  • Lead terms/coverage forms/follow form available, based on underwriting review
  • Highly experienced underwriters with more than 20 years average experience

Coverage

  • Individual Project Builders Risk and Master Programs
  • DIC for construction projects on a selected basis
  • Coverage form offers both physical damage and delay in opening
  • Various optional coverages based on the client's needs
  • Coverage to meet specific needs of the project and/or account
  • International Builders Risk

Services*

  • Loss control services
  • Engineering services

(both bundled and unbundled)

*Risk control activities conducted on behalf of the insurer are not intended as a direct benefit or service to ACE insureds.

Minimums & Limits

Minimum Premium

  • Typically $10,000 minimum applies, except:
    • $25,000 for blanket coverage programs;
    • $50,000 for international exposures

Minimum Deductible

  • Minimum deductible varies based on type and size of risk, generally $5,000 is the lowest for non-catastrophe perils.
  • Catastrophe perils generally require higher deductibles.

Limits

  • $200 million limit capacity with ability to consider higher limits depending on specific project exposure characteristics
  • Restricted Capacity:
    • Critical catastrophic perils, such as; California earth movement, 100 year flood, Tier 1 Named Windstorm
    • Frame construction
    • Unique or prototypical projects

Target Client

  • Contractor, developer, owner or home builder with active construction program and strong property preservation management approach looking for an underwriter with specialized expertise in Builders Risk.
  • Oil & Gas, Power  Generation and Heavy Chemicals - Your regional Builders Risk underwriter will refer these risk classes to Starr Technical Risks Agency, Inc, the sole ACE USA facility for underwriting property coverage for any energy risk. This coverage is provided on ACE paper.

 

Submission Requirements

  • Application to include: project description, statement of values, locations, limits and coverage requirements
  •  In addition to application, details on delay in opening coverage requirements (breakdown of soft costs, pro-forma and period of indemnity for loss of rental income and loss of business income)

 

Coverages

  • Capacity in a variety of positions
    • Primary
    • Full Limit
    • Quota share
    • Buffer
    • Excess layers
  • Portfolio of green endorsements
    • Potential financial loss from changes in environmental standards
    • Repairs using green materials
    • Additional debris removal expenses
    • Loss of tax credits
  • Individual Project Builders Risk and Master Programs
    • Four Wall Construction
    • Manufacturing
    • Bridges
    • Highways/Roads
    • Tunnels
    • Dams
  • DIC for construction projects on a selected basis
    • Generally limited to current ACE USA Inland Marine clients or prospective master program clients
  • International Builders Risk for U.S. domestic based clients  
  • Contract Penalty coverage as a result of a covered physical damage loss
  • Coverage form offers both physical damage and delay in opening