Berkshire Hathaway Specialty Insurance (BHSI) has introduced new Homebuilders liability insurance policy, in a bid to expand its construction-focused capabilities.
The new product has been developed to provide flexible protection for tract homebuilders, according to BHSI.
Homebuilders product offers coverage for bodily injury and property damage, personal and advertising injury, as well as includes a specialized coverage part to address construction defects and completed operations.
Coverage is paired with the loss control and claims services of BHSI’s construction specialists, and is available up to $15m in limits.
BHSI construction casualty head and vice-president Bill Sullivan said: "With this new policy, BHSI is providing homebuilders with access to much needed capacity, backed by stellar financial strength.
"Our proprietary homebuilders form is the latest manifestation of our commitment to the construction industry – a commitment embodied by our deep, in-house construction expertise and the steady stream of new products we are creating for this important sector."
Earlier this year, the firm introduced contractor’s pollution and professional liability coverages, as well as underwrites construction casualty, builder’s risk, and contract surety.
In October this year, BHSI introduced two new policies in the US, which provide cyber liability and breach response coverage with risk management resources.
Part of the firm’s Professional First suite of professional liability products, the new policies include the Professional First Network Security & Privacy Policy and Professional First Professional Liability and Network Security & Privacy Policy.
BHSI provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, and homeowners insurance services.