Zurich North America said on Tuesday that it has expanded its risk coverage for builders, offering up to $ 50 million in capacity for commercial construction projects using bulk timber.
specific coverage or as part of a builder risk program, said Schaumburg, an Illinois-based insurer.
Solid wood is a class of engineered building materials made from layers of wood that are compressed, often with a strong adhesive under high pressure, said Zurich.
"Wood pulp offers the dual benefits of a sustainable and sustainable building material," said Patrick McBride, director of construction properties in Zurich North America, in a statement.
In January, Zurich launched a parametric design weather policy to provide coverage for non physical damage related project delays that traditional construction risk insurance does not cover.