First Choice

Commercial Builders Risk Insurance Program

FCII has teamed up with one of the world’s largest insurance and reinsurance carriers to offer comprehensive, cost-effective Builders Risk insurance Policies for your clients' next projects.

Project Types Building Construction
  • Housing and apartments
  • Offices, stores and malls
  • Education, healthcare, hotels and restaurants
  • Theatres, cinemas and concert/exhibition halls
  • Conference centers, prisons, churches
  • Gyms and sports centers, bus/tram terminals
  • Multi-story garages and warehouses
  • Other project types considered.

  • Builders Risk including Soft Costs and Delay in Completion.
  • New construction and renovation/rehabilitation projects.
  • 100% capacity up to:
  • $100 MM maximum NC/MNC/FR property value (including owner-supplied property and existing property).
  • $12.5 MM maximum combustible/timber frame & JM, Total Insurance Value (including owner-supplied property and existing property and delay in completion).
  • “All Risks” policy form.
  • LEG 2/96 defects coverage as standard with ability to upgrade to LEG3/06.
  • LEG 2. Compromise Exclusion provides coverage for costs to remedy ensuing loss to covered property and costs to remedy damage to property supported by defective property. LEG 2 excludes the costs incurred to remedy a defect immediately before the damage occurred.
  • LEG 3. Narrow Exclusion is most broad by only limiting the exclusion to costs incurred to improve original materials, workmanship, design, plan or specification. Thus, in addition to the cover provided under LEG 2, LEG 3 will respond to the costs to remedy damage to defective property, costs to put right defective “part, portion or item,” and loss, damage or expenses incurred to access defective parts (rip and tear).
  • Under both LEG 2 and LEG 3, an ensuing loss exception is no longer necessary. The policy states that the entire loss will be covered less a specified amount. The loss payable is the total amount of the covered loss minus what it would have cost to replace the faulty work prior to the loss (LEG 2) or the cost to improve the original materials, workmanship or design (LEG 3).
  • Any claim under LEG 2 or LEG 3 will only respond if the project suffers damage or destruction. Rectification of a known defect, part or system that has not manifested damage is not an insured loss.

  • $10,000 minimum premium
  • Project periods up to 36 months (24 months for combustible/timber frame & JM construction).
  • May include cover for earthquake, windstorm and flood.
  • Simple proposal form and information requirements that draw on documents already produced for construction.
  • Most cases quoted within 48 hours upon receipt of required information.
  • Security A+ XV (Superior) as rated by A.M. Best and AA- (Very strong) by S&P (as of 10/02/20).

For a quote please send ACORD 147 and Builders Risk Supplemental to

Not appointed with First Choice?

Please send Producer Agreement with copy of your W-9, state license and E&O to

Thanks from your friends at First Choice