Liberty Mutual Launches New Builder's Risk Product

Provides Ease of Use and Certainty Through Flexible Coverage, Intuitive Structure.

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Mar 23, 2017, 10:00 ET

BOSTON, March 23, 2017 /PRNewswire/ -- To help large contractors and property owners – and the brokers who serve them – better manage property risk, Liberty Mutual has launched Premier Protector – Builder's Risk™.

The new Premier Protector – Builder's Risk policy helps eliminate uncertainties and inconsistencies through an intuitive structure. And because many of the coverages available in the new product are options, brokers and customers can work with Liberty Mutual's dedicated inland marine underwriters to tailor each policy to their specific needs.

"Flexibility and simplicity are at the heart of our new builder's risk product," notes Daniel Feige, division underwriting manager, Inland Marine, Liberty Mutual. "It allows brokers and customers to quickly and easily tailor coverage for a single construction project, or to develop a master program protecting an entire portfolio with coverage terms that allow for the natural ebb and flow of individual projects. The new product continues our drive to be more comprehensive and solution oriented for our broker partners and their policyholders."

Beyond ease of use and broad coverages, the policy is supported by Liberty Mutual's dedicated inland marine claims management professionals, as well as its property risk engineers, who help lower the total cost of risk by working to provide information which the policyholder can use to prevent the accidents that cause claims.

Liberty Mutual's new Premier Protector – Builder's Risk™ coverage – which is best suited to projects with total insured values greater than $50 million – features:

Available limits up to $500 million per project, and up to $200 million for shared and layered
Coverage for Named Storm, Earth Movement and Flood
Delay in Completion (Time Element), with Income Cover for owned projects
Master Builder's Risk by endorsement with Extension of Term endorsement to see projects through to completion

More information on the new Premier Protector – Builder's Risk™ is available at https://business.libertymutualgroup.com/business-insurance/coverages/inland-marine-insurance-policy?extcmp=pr_buildrisk.

About Liberty Mutual Insurance

Liberty Mutual Insurance helps people preserve and protect what they earn, build, own and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.

In business since 1912, and headquartered in Boston, Mass., today Liberty Mutual is a diversified insurer with operations in 30 countries and economies around the world. We are the fifth largest property and casualty insurer in the U.S. based on 2015 direct written premium data as reported by the National Association of Insurance Commissioners. We also rank 73rd on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue. As of December 31, 2016, Liberty Mutual had $38.3 billion in annual consolidated revenue.

Liberty employs more than 50,000 people in over 800 offices throughout the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products.

You can learn more about us by visiting www.libertymutualinsurance.com.

Contact:
Richard Angevine
Office: 617-574-6638
Mobile: 617-833-0926
Email: [email protected]

SOURCE Liberty Mutual Insurance