Zurich in North America, a part of Zurich Financial Services Group, has introduced its Property Portfolio Protection (P3) for the construction industry.
P3, an alternative to ISO forms, offers Zurich’s rates and language that includes more than 36 additional coverage options.
Zurich claims that the policy helps improve coverage limits for construction companies for fixed property, contractor’s equipment, installation, rigger’s liability, boiler and machinery and crime.
It also offers broader risk property coverages and the form includes extensive range of automatic coverages that requires fewer endorsements, according to the Zurich.
Zurich North America Commercial head of operations and profit management Seth Hausman said Zurich anticipates construction customers will find this enhancement helps reduce gaps and overlaps in coverage.
“P3 is designed to provide flexibility and risk management insight, tailored specifically to a customer’s needs,” Hausman said.