Intact Inland Marine Introduces Builders Risk Quota Share Coverage with Capacity of $100M

Producers Careers Specialty Solutions Canada

Inland Marine brokers and customers benefit from increased capacity, deep expertise, and flexibility in the new product offering.

News Release

May 16, 2024

Intact Insurance Specialty Solutions announces a new Quota Share Builders Risk product with $100M in capacity per construction project, on a lead or follow basis. This product is available in over 40 states on admitted paper and can be purchased by general contractors, owners, and developers.

“Intact’s New Quota Share product comes at a good time for brokers and customers as we continue to see bigger and more complex construction projects that need larger levels of capacity,” said Kirk Garrett, President of Intact Inland Marine. “As a long-time player in the builders risk market, we are pleased to add options to our capacity and provide tailored solutions for these projects in nearly every state, depending on the customer’s needs.”

Kirk added, “Our Quota Share Builders Risk coverage is backed by our A+ rating.* When you combine this with a team of underwriters averaging 20 years of expertise in the construction space, we are well-positioned to collaborate with brokers and customers on the solutions they need.”

Capacity above $100M can be considered on a case-by-case basis. Those interested in builders risk insurance for wood frame projects should continue to reach out to Striior Insurance Solutions, a wholly-owned subsidiary of Intact Insurance Group USA LLC, which operates as a managing general agent.

To learn more about Intact’s Quota Share Builders Risk Coverage, please visit our site: intactspecialty.com/inland-marine

*Intact Inland Marine is backed by the financial strength of Atlantic Specialty Insurance Company, an indirect subsidiary of Intact Financial Corporation (TSX:IFC), rated A+ by A.M. Best.

Intact Insurance Specialty Solutions is the marketing brand for the insurance company subsidiaries of Intact Insurance Group USA LLC. Coverages may be underwritten by one of the following insurance companies: Atlantic Specialty Insurance Company, a New York insurer; Homeland Insurance Company of New York, a New York insurer; Homeland Insurance Company of Delaware, a Delaware insurer; OBI America Insurance Company, a Pennsylvania insurer; OBI National Insurance Company, a Pennsylvania insurer; or The Guarantee Company of North America USA, a Michigan insurer. Each of these insurers maintains its principal place of business at 605 Highway 169 N, Plymouth, MN 55441, except The Guarantee Company of North America USA, which is located at One Towne Square, Southfield, MI 48076. This material is intended as a general description of certain types of insurance coverages and services. Coverages and availability vary by state; exclusions and deductibles may apply. Please refer to your insurance policy or consult with your independent insurance advisor for information about coverages, terms and conditions. Some coverage may be written by a surplus lines insurer through a licensed surplus lines broker. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.