Construction

Foxquilt enters NY with coverage suite including contractors’ GL

Digital MGA Foxquilt has begun offering its products in New York, including coverage for the challenged contractors’ general liability segment.

Procore puts short-lived programs and broking platform into run-off

Procore Technologies has placed its program and retail broking operations into run-off after they failed to reach sufficient scale, although the construction-focused platform remains committed to providing insights and data to the insurance industry, Program Manager can reveal.

Relaunched ClearView Underwriting adds construction/renovation program with A rated paper

ClearView Underwriting – the repositioned former Strata program – has launched an innovative construction/renovation offering with an A rated carrier as it looks to diversify and drive growth after a multi-year turnaround, Program Manager can reveal.

Totalis’s BlueSkyRisk launches $10mn+ builders’ risk program

BlueSkyRisk has launched Tower Construction Risk, a $10mn+ builders’ risk program led by former Westchester executive George Delatorre, marking the eighth program under the sub-brand of Aon-owned NFP’s Totalis platform, Program Manager can reveal.

Catalytic gets QBE capacity for E&S builder’s risk program

Catalytic Risk Managers & Insurance Agency has partnered with QBE North America on a program offering non-admitted construction all risk coverage for builder’s risk projects.

Victor expands builder’s risk coverage capacity with BHSI

Marsh-owned MGU platform Victor has entered into an agreement with existing carrier partner Berkshire Hathaway Specialty Insurance to expand capacity on its US builder’s risk and contractor’s equipment offerings.

NCC launches infrastructure program with $5mn GL and excess liability limits

Wholesaler National Coverage Corporation (NCC) has secured capacity from an A rated carrier to support a new program called Infrastructure PRO aimed at insuring private and publicly funded projects that will provide general liability and excess liability limits up to $5mn, The Insurer understands.

Intact’s Striior partners with Green Shield to improve wildfire underwriting analytics

Striior Insurance Solutions has partnered with Green Shield Risk Solutions as the Intact Insurance Specialty Solutions-owned builder’s risk-focused MGA seeks to better its ability to assess the threat posed by wildfire.

PURE Programs expands Palomar-backed high-value builder’s risk offering

PURE Programs has revamped and broadened its Palomar-backed high-value builder’s risk offering by increasing the limits it can offer to $30mn while also adding new client services to the product.

CORRECTION: Rokstone pulls out of US construction casualty as Simone-led team exits

Expansive Rokstone has pulled out of US construction casualty with a team led by Michael Simone exiting the firm, Program Manager can reveal.

Shepherd raises $13.5mn in Series A and targets further expansion

Construction-focused insurtech MGA Shepherd has raised $13.5mn in a Series A funding round that was led by Costanoa Ventures with participation from Intact Ventures, Era Ventures, Greenlight Re and Spark Capital.

CRC’s Insurisk tees up builder’s risk facility led by Turgeon

CRC’s in-house MGA Insurisk is set to launch a US builder’s risk facility at 1 January 2024 that will provide up to $7.5mn of exclusive capacity to its brokers, with AIG’s Ryan Turgeon appointed to run the program, E&S Insurer can reveal.

Velocity acquires majority stake in builder’s risk MGA Insight Risk

Velocity has acquired a majority stake in managing general agent Insight Risk Technologies, a one-stop loss prevention and risk transfer solution provider for the builder's risk market, The Insurer can reveal.

Shepherd adds trio of primary products to suite of construction-focused coverages

Insurtech MGA Shepherd has brought a trio of construction-focused primary insurance products to market, with the new admitted offerings written on the paper of Core Specialty’s StarStone National Insurance Company.

Rokstone secures $10mn Builders capacity for complex construction general liability

The construction arm of Aventum-owned specialty MGA Rokstone has expanded its partnership with Builders’ specialty program division, securing $10mn follow-form lead excess capacity for general liability on complex construction projects.

Applied Surety UW hires Bluzard, Raines and Fuller as Argo exits continue

Applied Surety Underwriters (ASU) has hired James Bluzard from Argo as CUO for its contract bond offerings along with colleagues Christopher Raines and Kyle Fuller, as exits from the Bermudian’s surety unit continue.

Procore launches $50mn exclusive GL wrap facility through NCC with Aurenity backing

Procore Risk Advisors is set to launch an exclusive $50mn general liability wrap-up facility through wholesaler National Coverage Corporation with backing from start-up MGA Aurenity and a panel of E&S carriers, The Insurer can reveal.

Procore’s Dietz takes aim at “antiquated” insurance buying process

Procore Risk Advisors’ Anthony Dietz has slammed the “antiquated” process construction clients are forced to undertake when buying insurance as “totally unacceptable”, while also stating that underwriters need to take a more nuanced approach when it comes to pricing coverage rather than applying widespread increases.

Shepherd hires Axa XL’s Watts and eyes east coast buildout

Construction-focused start-up MGU Shepherd has set its sights on growing its book on the US east coast following the hire of John Watts from Axa XL.

Amynta’s BTIS launches GL program for construction remodellers

Small business-focused intermediary Builders & Tradesmen's Insurance Services (BTIS) has launched VETA, a general liability insurance coverage option designed to meet the niche needs of construction remodellers and artisan contractors.