Vikco Launches Innovative Builder’s Risk Program in Partnership with TruStage and Lloyd’s

Vikco Launches Innovative Builder’s Risk Program in Partnership with TruStage and Lloyd’s

Vikco Builder’s Risk has taken a significant step in the construction insurance industry by launching a specialized Managing General Agent (MGA) focused on Builder’s Risk Insurance. This new initiative, a division of Vikco Insurance Services and supported by K2 Insurance Services, aims to provide comprehensive and tailored coverage solutions for the construction sector.

Innovative Builder’s Risk Insurance Solutions

The newly established program combines exceptional underwriting expertise with strategic partnerships to offer robust coverage options that cater to various construction needs. Developed in collaboration with TruStage and Lloyd’s, this initiative delivers:

  • Coverage Capacity: Up to $20 million for all construction types.
  • Critical CAT Coverage: Options include Tier 1 Named Windstorm, California Earthquake, and coverage for Special Flood Hazard Areas.
  • Limits: Available limits for critical coverage range from $5 million to $10 million.

Target Projects and Policy Features

Vikco Builder’s Risk Insurance targets projects ranging from under $1 million to over $100 million. This includes:

  1. Ground-up new construction
  2. Prior starts
  3. Four-wall projects
  4. Utility and infrastructure developments

All policies are issued on non-admitted paper rated A- (Excellent) or better by AM Best, ensuring high-quality coverage for clients.

Leadership Insights

Kaileigh Bowe, Executive Vice President of Vikco Insurance Services, expressed enthusiasm about the launch: “We’re thrilled to introduce Vikco Builder’s Risk in partnership with such esteemed industry leaders. This program reflects our commitment to providing underwriting excellence and customer-focused solutions in the U.S. construction market.”

Stafford Chisholm, Vice President of P&C Programs at TruStage Specialty Insurance Company, added, “TruStage™ Specialty Commercial Programs aim to help niche markets protect what matters most. Partnering with Vikco and K2 Insurance Services aligns perfectly with our goal of expanding our Program Business portfolio and delivering long-term value to our clients.”

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For more detailed information about Vikco Builder’s Risk Insurance and its offerings, visit Vikco Insurance Services.

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