Victor O Schinnerer & Company, an underwriting manager, has rolled out a new residential builders’ risk program for which the company will act as a program access point for retail agents and brokers.
Offered through Arch Insurance Group, the inland marine line of coverage has been tailored to offer project-specific insurance to owners and builders of residential dwellings under construction.
Besides offering core coverages including theft of building materials and interest of subcontractors, the policy provides a suite of 15 extra coverages built-in to the builders’ risk coverage form including pollutant cleanup or removal, ordinance or law, expediting expenses, among others.
Brokers can offer quotes and issue a builders’ risk policy in minutes leveraging Schinnerer’s new online broker portal.
The broker portal will also enable the brokers to upgrade coverages, review existing policies, and print or email policies, according to the insurance company.
Schinnerer’s Builders’ Risk program vice president and senior underwriting manager Jeff Benson said: "We listened to the broker community and created a program that provides excellent coverage, superior customer service, and state-of-the-art technology.
We make it easy for brokers to quote and issue policies in just a few simple steps and even print the policy in real time right in their office."
Currently available in 23 states, the builders’ risk coverage will be made available across the US over the next few months.