QBE North America Partners with Catalytic Risk Managers to Enhance Builders Risk Program

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QBE North America has recently announced a program partnership with Catalytic Risk Managers & Insurance Agency, LLC, a division of DUAL North America, Inc. This collaboration aims to provide comprehensive and tailored solutions for construction projects through their non-admitted Builders Risk program.

The partnership between QBE North America and Catalytic Risk Managers will leverage the expertise of both teams to offer builders risk coverage that effectively protects and meets the unique needs of construction projects. James Haggerty, Head of Commercial Programs at QBE North America, expressed excitement about the partnership, highlighting their commitment to expanding their builders risk portfolio and building a strong relationship with Catalytic and DUAL North America.

Catalytic Risk Managers specializes in writing builders risk business exclusively through regional and national wholesale brokers. Claims for the program will be handled by Catalytic Claims Services, a division of DUAL North America. Jon Knouse, Chief Property Officer of DUAL North America, emphasized that this new program partnership will allow them to provide additional coverage and expertise to the construction market, positioning them to seize new opportunities and drive innovation.

The Commercial Programs portfolio at QBE includes Property and Workers’ Compensation programs, showcasing their commitment to solving unique risks for customers. QBE North America operates globally, with a presence in 27 countries, and reported Gross Written Premiums of $7.6 billion in 2023.

Catalytic Risk Managers and DUAL North America, Inc. are part of the DUAL Group, a leading Specialty Program Administrator offering various insurance products. DUAL has a strong international presence, with operations in 21 countries and $3.5 billion in Gross Written Premiums. They strive to underwrite and manage unique insurance programs using advanced technology and simplified distribution methods.

For more information about QBE North America and their services, visit their website at qbe.com/us. Stay updated on the latest news and insights from QBE North America by following them on LinkedIn, Facebook, and Instagram.

Source: QBE North America

QBE North America’s partnership with Catalytic Risk Managers aims to enhance their Builders Risk program and provide comprehensive solutions for construction projects. This collaboration allows QBE North America to expand their builders risk portfolio and build a strong relationship with Catalytic and DUAL North America, emphasizing their commitment to solving unique risks for customers.

Catalytic Risk Managers specializes in writing builders risk business exclusively through regional and national wholesale brokers. This partnership will enable them to offer additional coverage and expertise to the construction market, positioning them to seize new opportunities and drive innovation. Claims for the program will be handled by Catalytic Claims Services, a division of DUAL North America.

QBE North America’s Commercial Programs portfolio includes Property and Workers’ Compensation programs, showcasing their dedication to providing tailored solutions. With a global presence in 27 countries and reported Gross Written Premiums of $7.6 billion in 2023, QBE North America has a strong position in the insurance industry.

Catalytic Risk Managers and DUAL North America are part of the DUAL Group, a leading Specialty Program Administrator with operations in 21 countries and $3.5 billion in Gross Written Premiums. The DUAL Group focuses on underwriting and managing unique insurance programs using advanced technology and simplified distribution methods.

Some advantages of this partnership include the ability to offer comprehensive builders risk coverage tailored to construction projects and the expertise and experience brought by QBE North America, Catalytic Risk Managers, and DUAL North America. This collaboration also positions them to capitalize on new opportunities in the market and drive innovation in the insurance industry.

However, potential challenges or controversies associated with this subject could include the potential complexity of managing builders risk claims, the competitive landscape of the construction insurance market, and the need for continuous adaptation to changing industry trends and regulations.

Market Trends and Forecasts:
– The global builders risk insurance market is expected to grow significantly in the coming years, driven by increased construction activities and a greater focus on risk management.
– Emerging trends in the market include the adoption of advanced technology such as drones and IoT devices for risk assessment and claims management, as well as the integration of data analytics for more accurate underwriting and pricing.
– With the increasing occurrence of natural disasters and climate-related risks, builders risk insurance is becoming more critical to protect construction projects from potential losses.

Key Challenges and Controversies:
– The construction insurance market is highly competitive, with numerous insurers offering builders risk coverage. This can make it challenging for QBE North America and Catalytic Risk Managers to differentiate their program and attract customers.
– Managing and settling builders risk claims can be complex and time-consuming due to the unique nature of construction projects. This could result in higher costs and potential disputes.
– The evolving regulatory landscape and changing building codes may pose challenges for insurers in ensuring compliance and adapting their coverage to meet new requirements.

For more information about QBE North America and their services, you can visit their website at qbe.com/us.