To help large contractors and property owners - and the brokers who serve them - better manage property risk, Liberty Mutual has launched Premier Protector - Builder's RiskTM.The new Premier Protector - Builder's Risk policy helps eliminate uncertainties and inconsistencies through an intuitive structure. And because many of the coverages available in the new product are options, brokers and customers can work with Liberty Mutual's dedicated inland marine underwriters to tailor each policy to their specific needs.
"Flexibility and simplicity are at the heart of our new builder's risk product," notes Daniel Feige, division underwriting manager, Inland Marine, Liberty Mutual. "It allows brokers and customers to quickly and easily 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. The new product continues our drive to be more comprehensive and solution oriented for our broker partners and their policyholders."
Beyond ease of use and broad coverages, the policy is supported by Liberty Mutual's dedicated inland marine claims management professionals, as well as its property risk engineers who 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 RiskTM coverage - which is best suited to projects with total insured values greater than $50 million - features:
- 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
More information on the new Premier Protector - Builder's RiskTM is available at https://business.libertymutualgroup.com/business-insurance/coverages/inland-marine-insurance-policy?extcmp=pr_buildrisk.