Bermuda-domiciled specialty re/insurer Ascot has formed a partnership with Highland Insurance Solutions to provide a builders risk insurance program for US projects.
The partnership will provide Highland, a subsidiary of WNC Insurance Services, with additional capacity to underwrite frame and concrete construction projects on all risks policies.
The solution will be available exclusively for new developments and is aimed at delivering protection for physical damage and delay in completion.
Furthermore, the program is offered in most continental states with a particular geographic focus on the mid-west and mid-east regions.
“We’re delighted to partner with Highland to deliver further solutions for the Builders Risk market. Highland have decades of expertise in this sector, and we’re pleased to partner with such an experienced team and to support this distinctive program,” Anthony Lyons, Executive Vice President, Head of Portfolio Solutions.
“As economic activity and construction increase throughout the country, Ascot looks forward to supporting a new wave of development with this program.”
“We continue to strengthen our construction solutions offering with more products and enhanced distribution,” added Rick Girden, President of the WNC and Highland Construction Division.
“Throughout this, we’ve looked to partner with leading capacity providers such as Ascot, who offer thoughtful underwriting, superior risk management and secure coverage for our clients.
“I look forward to enhancing this relationship with our newest risk partner and know that the program will continue to develop Highland’s position as a leading solutions provider for Builders Risk insurance.”
