Tokio Marine Highland today announced the launch of Builders Risk Admitted Paper coverage for construction owners, contractors, developers and homeowners. Available in 25 states, the coverage is written through American National Property And Casualty Company, rated “A” (Excellent) by AM Best, as of November 2020.
Tokio Marine Highland is a leading managing general agent and a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market. Highland offers a broad suite of insurance products and specialty risk management solutions tailored to the needs of today’s residential, commercial and institutional construction projects.
“Introducing an admitted product will promote the expansion of our business and will offer a competitive solution for our trading partners in a very unique market environment,” said Rick Girden, President of the Tokio Marine Highland Construction Division.
Tokio Marine Highland’s Admitted Paper coverage is available in Arizona, Arkansas, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Tennessee, Utah, Virginia, West Virginia, Wisconsin and Wyoming. Coverage is offered up to 24 months, with an additional six-month extension if needed, and includes:
- All risk coverage
- Physical damage/delay in completion
- 100% projects, no quota share projects
Target classes for coverage include:
- New four-wall construction
- Mixed-use, residential housing
- Office, institutional and retail
- Non-structural renovation
Tokio Marine Highland is a leader in providing Builders Risk solutions crafted by underwriting teams with deep expertise and decades of experience in the construction industry. In addition to Admitted Paper coverage, other product offerings include Construction All Risk (CAR), Master Builders Risk, Reporting Forms and Renovation Projects (structural and non-structural).
About Tokio Marine Highland
Tokio Marine Highland is a leading property and casualty underwriting agency that offers distinct specialty risk management solutions, including private flood, construction, fine art, specialty property, real estate investment and lender-placed insurance. Tokio Marine Highland also includes Precise Adjustments, a wholly owned subsidiary that provides industry-leading claims capabilities.
Founded in 1962, Tokio Marine Highland Insurance Services, Inc. (formerly WNC Insurance Services, Inc.) is a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market, rated A+ by Standard & Poor’s for financial strength, and a member of the Tokio Marine Group. Tokio Marine Highland’s home office is located in Chicago, IL, with operating centers in Dallas, TX, Irvine, CA, Miami, FL, Naperville, IL, and South Pasadena, CA.
For more information, visit our website at www.tokiomarinehighland.com.
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