Specialty Catastrophe Products

SPECTRA® for Builders Risk

Chubb SPECTRA® for Builders Risk provides named storm deductible buyback coverage for construction projects. This policy can be purchased as a standalone named storm coverage or to cover an existing named storm builders risk policy deductible, and is available for long term construction project spanning multiple years.

Coverage Highlights

Benefits

  • Customized products and services for a wide range of industries and clients, ranging from multinationals to large U.S. companies and small businesses
  • Annual aggregate deductible cap can cover multiple named storm occurrences in a single season
  • Superior service provided by solutions-oriented insurance professionals

Coverage

  • Multiple named storm occurrences within a single season with an annual aggregate deductible cap
  • Streamlined policy language for standalone named storm coverage
  • Option for follow form with primary builders risk policy
  • Up to three year policy term; longer periods will be considered
  • Option for annual aggregate cap on named storm deductible losses for construction project portfolios

Minimums & Limits

  • Minimum deductible is $100,000 per occurrence/location
  • Minimum premium is $100,000
  • Limit up to $10 million per location

Target Client

  • Any class of construction within the construction industry
  • Any construction project in coastal areas subject to a named storm deductible