Willis launches builder’s risk facility for wood frame construction projects
Willis launched the Wood Frame Follow Facility Builder’s Risk Program, a new insurance facility designed for ground-up wood frame construction projects across the United States.
The program provides follow-form builder’s risk capacity that aligns with lead market coverage, targeting multifamily residential developments, mixed-use projects, and other wood frame construction risks.
The facility offers up to $50 million in quota-share follow capacity, with a maximum 50% co-share participation, policy terms of up to 36 months, and availability in all 50 states and Washington, D.C.
Coverage can extend to hard costs, owner-supplied materials, loss of rental income, soft costs, flood and storm surge, named windstorm, and earthquake exposures, subject to policy terms and conditions.
The facility follows lead market terms, creating a coordinated underwriting approach intended to streamline the placement process and enhance consistency across participating layers.
“Construction projects today face increasingly complex risk environments, from catastrophic weather events to rising material costs and project delays. Our Wood Frame Follow Facility is designed to provide clients with a responsive, efficient, quota share capacity that seamlessly follows the lead market, giving project teams the confidence and flexibility they need to keep developments moving forward.” – Ryan Hucker, North America Builder’s Risk Broking Leader at Willis.
