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Chubb SPECTRA® for Builders Risk provides named storm deductible buyback coverage for construction projects. This policy can be purchased as a standalone named storm coverage or to cover an existing named storm builders risk policy deductible, and is available for long term construction project spanning multiple years.
Coverage Highlights
Benefits
Customized products and services for a wide range of industries and clients, ranging from multinationals to large U.S. companies and small businesses
Annual aggregate deductible cap can cover multiple named storm occurrences in a single season
Superior service provided by solutions-oriented insurance professionals
Coverage
Multiple named storm occurrences within a single season with an annual aggregate deductible cap
Streamlined policy language for standalone named storm coverage
Option for follow form with primary builders risk policy
Up to three year policy term; longer periods will be considered
Option for annual aggregate cap on named storm deductible losses for construction project portfolios
Minimums & Limits
Minimum deductible is $100,000 per occurrence/location
Minimum premium is $100,000
Limit up to $10 million per location
Target Client
Any class of construction within the construction industry
Any construction project in coastal areas subject to a named storm deductible