US Construction Risks

Since 2004 JLT's construction unit has been at the forefront of product development in respect of casualty capabilities for residential homebuilders in the US, both custom and tract. We were the first intermediary to successfully encourage excess markets, both in London and Bermuda, to follow form of Zurich's Home Builders' Protective Policy. 

Prior to the development of this form limited coverage for homebuilders was available in the market place, with standard GL forms requiring tailored endorsements, often at great expense.

Working with excess markets, JLT are in a position to offer up to $250mm in limits on the ZHBP form which amongst others things,  provides warranty coverage with a first party trigger element, and includes cover for PD resulting from mold. The EFIS exposure can be underwritten, and key areas of cover for the likes of common areas, leased back homes such as model homes are not excluded. The ZHBP form targets builders with revenues which range from $100mm to $1bn.

Additionally, JLT has developed an alternative policy form containing the same policy enhancements as mentioned above ideally suited to sit in excess of a large Self Insured Retention, targeting homebuilders with $1bn and above in revenues.

With an eye to the current economic landscape and in anticipation of green shoots of recovery, we are just weeks away from being able to announce an exciting new product for niche homebuilders with revenues up to $100mm in limits. It is envisaged a choice of coverage forms will be available with limits of up to $75mm offered.

For more information on the above please don't hesitate to call  Galen Brislane on +44 20 7528 4876.

This blog was written by Galen Brisbane who worked as a Casualty broker within the Construction Division at JLT, from 2005 to September 2010. For any Construction related insurance queries, please contact Bernadette Hackett, Partner within the JLT Construction Division.