Overview
We are construction specialists
AXIS is among the market's most experienced insurers of worldwide construction risks, with a focus on infrastructure and power generation projects. We're one of a select set of global insurers capable of underwriting the largest projects.
The AXIS US Construction Insurance team has the experience and hands-on expertise to help brokers coordinate and assemble the capacity for these projects. Whether the risk is insured solely by AXIS or within a panel, we manage claims efficiently and effectively, advocating for customers and communicating clearly.
Emphasis on builder’s risk for commercial construction, infrastructure, and power
Appetite for a broad range of risks throughout the US and globally
Flexible program structures with 100% placed programs, lead quota share, follow form quota share, and selective appetite for excess
Solutions
Project Builder’s Risk
Designed for a single project with total insured values greater than $50,000,000
Master Builder’s Risk
- Tailored to cover most or all of a customer’s construction portfolio with dedicated limits, rates, terms, and conditions for various project types
- The MBR offers flexible reporting options for projects ranging from reporting forms to specific project attaching coverage
Additional Coverages Available
- Delay in Completion – coverage for Gross Income, Rental Income, Contractor Soft Costs, and Owner Soft Costs
- Coverage for Faulty, Defective, or Deficient Covered Property
- Contractors Equipment (including cranes, tunnel boring machines, and other specialized equipment critical to the project)
- Existing Real Property – extends coverage beyond just damage caused by construction operations
- Phased Construction – the ability to phase portions of a project on and off as they start or complete
Project Builder’s Risk
Designed for a single project with total insured values greater than $50,000,000
Master Builder’s Risk
- Tailored to cover most or all of a customer’s construction portfolio with dedicated limits, rates, terms, and conditions for various project types
- The MBR offers flexible reporting options for projects ranging from reporting forms to specific project attaching coverage
Additional Coverages Available
- Delay in Completion – coverage for Gross Income, Rental Income, Contractor Soft Costs, and Owner Soft Costs
- Coverage for Faulty, Defective, or Deficient Covered Property
- Contractors Equipment (including cranes, tunnel boring machines, and other specialized equipment critical to the project)
- Existing Real Property – extends coverage beyond just damage caused by construction operations
- Phased Construction – the ability to phase portions of a project on and off as they start or complete
Appetite
Desired Target Classes for AXIS US Construction:
- Building Construction
- Civil, Infrastructure
- Dams
- Roads and Rail
- Bridges
- Pipelines
- Oil and Gas – Renewable
- Power Generation
- Renewable, Battery Storage
Acceptable Classes Subject to Additional Underwriting:
- Civil, Infrastructure
- Wet Works
- Tunnels
- Industrial
- Manufacturing
- Oil and Gas – Conventional
No appetite for offshore, mining, or oil refining. Very little appetite for wood frame
- Limited appetite for wind, solar, and BESS (written with our Renewable Energy team)
Capacity
- Up to $250,000,000 in capacity based on underwriting PML assessment
- Subject to higher hazard Nat Cat exposure and subsequent limit request, which may reduce our overall percentage offering
- Capability to provide Natural Catastrophe limits for projects in moderate to high hazard zones as well as non-critical zones
- Nat Cat capacity is limited to a maximum of $10,000,000 within higher hazard zones
- Coverage on an admitted and non-admitted basis where available and when appropriate
Applications and Documents
Casualty
AXIS Wholesale Casualty is a wholesale-only market for Primary and Excess Casualty for all types of construction business.
Our underwriters have a rigorous risk appetite for most construction related classes of business:
- In Primary Casualty, we offer limits of up to $2,000,000 each occurrence with a minimum retention of $5,000 each occurrence
- In US Excess casualty, we participate from lead attaching Excess to high attaching Capacity Excess
Inland Marine
The AXIS Inland Marine product offering includes specialized solutions for a variety of risk exposures in the Construction sector.
We provide tailored coverage for Builders Risks, Installation Floaters, Contractors Equipment, Equipment Sales and Rental, and Transportation and Storage on a primary, excess, or quota share basis.
Our products are distributed through wholesale brokers and specialty retailers on a non-admitted basis.
Professional Liability
AXIS Construction Professional specializes in providing primary and excess professional and pollution coverages.
Our team focuses on general contractors, construction managers, design-builders, specialty trade contractors, as well as design professionals, project owners, and project developers.
Ocean Marine
AXIS US Ocean Marine can support your construction projects offering coverage for physical loss or damage to goods throughout the supply chain, including international shipments, connecting foreign and domestic inland shipments, at transshipment points and ports, and in temporary storage.
We specialize in covering heavy machinery, construction materials, chemicals or hazardous material, and any manufactured products.
Claims
We deliver on our promises
Effective resolution for customers is achieved with our highly skilled claims specialists focusing on:
- Quick decision making
- Championing your needs
- An honest approach
∗Claims examples may be based on actual cases, composites of actual cases or hypothetical claim scenarios and are provided for illustrative purposes only. Facts have been changed to protect the confidentiality of the parties. Whether or to what extent a particular loss is covered depends on the facts and circumstances of the loss, the terms and conditions of the policy as issued and applicable law.
Related
What’s happening at AXIS
Related news and updates across the organization
Find your future at AXIS
We are a global insurer and reinsurer tackling unique challenges. At the heart of it all? Our people. As unique as the risks we face.
