Zurich adds ‘mass timber’ construction risk coverage
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Zurich North America said Tuesday it has expanded its builders risk coverage, offering up to $50 million in capacity for commercial construction projects using mass timber.
Zurich’s mass timber builders risk coverage will be available for qualified risks as a project-specific coverage or as part of a master builders risk program, the Schaumburg, Illinois-based insurer said.
Mass timber is a class of engineered building materials fabricated from layers of wood pressed together, often with a strong adhesive under great pressure, Zurich said.
“Mass timber offers the dual benefits of a sustainable and durable building material,” Patrick McBride, head of construction property at Zurich North America, said in a statement.
In January, Zurich launched a construction weather parametric policy to provide coverage for non-physical-damage-related project delays that traditional builders risk insurance doesn’t cover.
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