USI Insurance Services Launches Builder’s Risk Program to Address Ongoing Pricing and Deductible Inconsistencies Impacting Middle Market Owners and Contractors
Valhalla. N.Y. (PRWEB) April 06, 2015 -- To address ongoing inconsistencies in pricing, deductibles and terms and conditions offered to middle market owners and contractors, USI Insurance Services (“USI”) has launched a Builder’s Risk Program that provides broader coverage for all project types and sizes, and establishes stable capacity for frame and renovation projects, including catastrophic perils.
This competitively-priced program is a better alternative for owners and contractors who rely on their own property program, which typically has limited capacity and control over claims related to construction activities. Underwritten by Allianz and ACE Group, the USI Builder’s Risk Program can lower premiums by eliminating budget markups and empowers the client with the ability to negotiate the appropriate terms and conditions to meet contractual and lender compliance. In addition, the program accelerates the response time during the bidding process and reduces costs on the value of the project through an expedited claim recovery process.
Robert Meyers, USI’s senior vice president of property & casualty, said: “Middle market clients frequently rely on standard builder’s risk coverages when developing a new property or renovating an existing location. This is their path of least resistance, however, inadequate coverage terms and property transfer problems at completion often create unforeseen costs and delays. At USI, we have developed a custom-built program that creates market competition and enables the negotiation of extensive coverage that better matches our client’s project exposures.”
Email John.Campbell(at)usi(dot)biz for more information on this program.
About USI Insurance Services
With more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker(1), the 4th largest privately held commercial lines broker in the United States(2), and the 13th largest insurance brokerage firm in the world(3). USI is also the 3rd largest privately held personal lines broker in the United States(2) and the 7th largest benefits broker ranked by global benefits revenue(4). USI has been recognized for its innovation by Information Week 500 the last three years and Best’s Review January 2014 Innovation Showcase. Additional information about USI may be found at http://www.usi.biz.
1 Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines (excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
Cecile Locurto, USI Insurance Services, http://www.usi.biz, +1 914-747-6331, [email protected]
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