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Axa XL offers protected project prices for construction



Construction projects can qualify as a highly protected project and improve their insurance prices and terms with Axa XL's North American construction insurance business by using techniques to mitigate project risk, the insurer said in a statement on Wednesday.

Insured commercial properties that contain additional risk and safety measures, such as sprinkler systems, are considered a highly protected risk and may earn more favorable insurance prices and terms, according to Gary Kaplan, president of Axa XL's North American construction insurance business. [19659002]

"With increased use of technology on construction sites, we see the same opportunity to expand more competitive insurance coverage and capacity for projects that take risks to reduce risks," Kaplan said in the statement.

Examples of such techniques include those that can mitigate water damage; detect unhealthy or unsafe environmental conditions; monitor on-site security support for sub-consultants and support project scheduling, the statement said.

Any improvements in insurance rates and terms "are made on a risk-by-risk basis", according to a spokeswoman.

Construction projects eligible for Axa XL's HPP status and special insurance include those in healthcare, commercial offices, higher education and manufacturing / processing worth $ 200 million or more, the statement said.

Axa XL's construction risk technicians can help contractors with purchasing technology, the statement says.

Axa XL's North American construction insurance business offers primary and excessive accidents, professional liability, construction risk, wrapups, subcontractor negligence, pollution insurance and risk technology, the statement says. Catalog

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