Aon launches Bermuda facility to expand excess casualty capacity

Aon has launched a Bermuda-based market facility providing up to $50 million in excess casualty capacity, offering US construction projects additional protection supported by a panel of leading insurers.

The facility, Bermuda Insurance Liability Top-Up (BILT), alongside boosting capacity, offers excess of a minimum $100 million attachment point, and a streamlined claims agreement process.

The facility’s underwriting and claims are led by Chubb and supported by a panel of strongly rated Bermuda insurers, including Arch, Ascot, Axa XL, Hamilton and Liberty Mutual. 

Policy terms for the facility are available for up to seven years, with completed operations coverage of up to 10 years, or as per the relevant statute of limitations.

This new facility builds on Aon’s London-based Liability Facility Top-Up (LiFT) which, when combined, provides clients with up to $100 million of US casualty capacity on project business. LiFT does not have to be on a programme for BILT to offer terms; BILT operates as an independent Bermuda market facility.

Nick Moore, CEO of Bermuda for Aon, said: “The US construction market is entering a cycle of growth, driven by shifts in interest rates and massive investments various sectors including data centers and healthcare. We are proud to offer this first-of-its-kind facility for the Bermuda market to provide our clients with a large block of efficiently placed casualty capacity supported by experienced local insurers with deep construction insurance expertise.”

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