WTW, a global re/insurance broker, has recently launched the Bermuda Excess Casualty Construction Facility to meet the needs of clients within the construction industry, specifically in the North American market.
This new facility offers additional coverage ranging from $25 million to $50 million, providing crucial support for construction projects.
In the event of unexpected incidents, the facility ensures comprehensive protection with an extra $10 million in coverage per occurrence.
Simplifying the insurance process with an easy-to-understand slip format, the facility speeds up the process of obtaining insurance quotes and policies, thereby avoiding unnecessary delays.
Underwriters commit to clients within just three days, giving them swift access to the coverage they need, which is crucial in the fast-paced construction industry.
Jim Dunlap, North American Construction Broking Leader at WTW, expresses excitement about offering clients this competitive option for extra liability coverage.
Dunlap adds, “As a Global Line of Business, it is imperative that we provide our clients access to the global marketplace to assure that the very best terms and conditions are obtained. The development of this innovative facility is indicative of WTW’s commitment to product development.”
WTW’s internal administrative services are designed to make the quote and policy process smoother, providing better convenience and efficiency for clients.
By carefully managing terms and conditions, WTW ensures clients receive superior coverage that is cost-effective and operationally efficient from the outset.
Additionally, WTW’s global construction team is ready to offer seamless support and guidance, providing tailored risk management and transfer strategies to meet each client’s specific needs.
Chris Heinicke, Head of Casualty in Bermuda at WTW, highlights, “This is an innovative product that is a collaborative effort between WTW Press Release Construction North America and WTW Bermuda that has developed a unique facility providing excess construction capacity generally lower in traditional liability towers.”
