Hutch Underwriting is set to introduce an annual construction insurance policy on EBIX Sunrise Exchange starting from June 16th.
This offering includes a standard cyber section and is intended to provide protection against the rising wave of cybercrime impacting Australia's construction industry.
"We hope our unique coverage, focus on service, and the efficiency of Sunrise integration will prove real differentiators," said Robin Johnson, CEO of Hutch.
The product is aimed at residential and commercial builders with a turnover of up to $50 million.
“We offer flexible options that allow brokers to tailor coverage to meet their clients’ needs and budgets, including existing structures cover, display homes and their contents, plant and equipment, care custody and control and pollution liability, and flexible sublimits and excesses,” said Hutch chief underwriting officer Dominique Vagi. “We also take pride in being the first in the market to include built-in cyber protection in response to the increasing threat of cybercrime, which poses a significant risk to our client base.”
Additionally, Rheece Tunnell, a construction underwriter formerly associated with ATC, has joined the team.
“We’ve hired a strong team to ensure we can provide brokers with market-leading service to match our product,” said Vagi. “Brokers should expect to complete auto-quotes in six minutes and to see very rapid turnaround times on referrals – that has been the secret to our success in strata, where we’ve achieved a 94% satisfaction score.”
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