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(Image source: Insight Risk Technologies.)
Insight Risk Technologies, a New York-based MGA and provider of Builder’s Risk insurance solutions enhanced by IoT technology, has launched Deductible Assurance, a program that allows general contractors to significantly reduce water damage deductibles on builder’s risk insurance policies by adopting qualified water damage prevention technology.
Contractors accepted into the program may select from three approved technology solutions, each offering progressively greater protection and corresponding deductible reductions. Deductibles, which typically reach several hundred thousand dollars, may be lowered to as little as $50,000. Pricing adjustments are designed to offset technology costs, with the program targeting portfolio-level risk management and potential improvements to financial performance.
Michael Reich, CUO, Insight Risk.
Water damage remains the primary cause of loss in commercial construction, often leading to project delays and reduced profitability. The Deductible Assurance program aims to mitigate the frequency and severity of these losses while offering cost certainty and flexible implementation timelines. Estimates are available as early as the bidding and pre-construction phases and up to policy binding, helping integrate insurance expenses into project budgets.
“Insight Risk is deepening its commitment to innovative risk management solutions with the Deductible Assurance program,” says Mike Reich, Chief Underwriting Officer, Insight Risk. “By locking in deductible terms early, contractors and owners have the leverage to negotiate more effectively—whether they’re bidding, placing insurance, arranging loans, or finalizing bonding terms. The program rewards project teams that actively manage risk, aligning their interests with carriers while delivering predictability from day one.”
Deductible Assurance is compatible with most U.S. builder’s risk policies, including both new construction and renovation projects. It is intended to complement master builder’s risk and project-specific insurance strategies.
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