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