Builders' Risk

Not all builders' risk policies are created equal

IMA develops builders’ risk programs that mirror clients’ risk appetite. IMA has relationships with regional, national and London markets. The global reach offers access to specific programs for global clients.

Challenges and issues in this area of insurance

  • Flood & earthquake coverage
  • Design responsibilities
  • Alternative project funding (public-private partnerships)
  • Wind Hail exposures and retentions
  • Site security 
  • Existing building coverage & early occupancy
  • Owner-versus-contractor provided policies 
  • Large retentions & risk transfer
  • Special requirements tax credit and HUD projects
  • Coverage forms
  • Testing, professional services, financing, damages, and other soft costs and their impact to program design
  • High hazard territories and reinsurance requirements  

Industry focus

  • Commercial Construction - New and Renovation
  • Heavy Civil Contractors - Bridges, tunnels, dams
  • Power and Industrial - Wind, solar, nuclear, coal
  • Residential Construction - Homebuilders, condos and apartments
  • Contractors/Owners

Program structures

  • Master Builder’s Risk Program – Dedicated policy structure, limits and rates
  • Project Specific – Policy tailored for a specific project
  • Quota Share – Two or more carriers take on an allocated percentage of the risk
  • Loss Limit – Policy limit set to an agreed upon value