Victor adds new capacity to its builders risk and contractors equipment offerings

Victor , a global managing general underwriter (MGU), announced an agreement with Berkshire Hathaway Specialty Insurance (BHSI) to expand coverage capacity for its US builders risk and contractors equipment offerings, effective immediately.

The construction industry has been facing persistent challenges, including inflation, climate-related catastrophes, and tightening capacity. Under the agreement, Victor’s builders risk program will offer increased coverage maximums of up to $8 million for frame and joisted masonry, and up to $15 million for non-combustible building projects. Additionally, Victor has doubled the coverage maximum for its contractors equipment insurance product to $10 million.

BHSI has been providing capacity for Victor’s builders risk program since 2021 and collaborated with Victor to bring the contractors equipment product to market in 2023.