Sydney-based Hutch Underwriting is launching an annual construction insurance product targeted at builders with turnover of up to $50 million.  

The new policy will be available exclusively on Ebix Sunrise Exchange from tomorrow. Material Damage and Liability sections are complemented by a standard Cyber section. 

“We take pride in being the first in the market to include built-in cyber protection,” Chief Underwriting Officer Dominique Vagi said. 

Hutch offers flexible options enabling brokers to tailor coverage to meet their clients’ needs and budgets, she says, with cover for existing structures, display homes, plant and equipment, pollution liability and flexible sub limits and excesses.    

Hutch has appointed Marco Sulser and Rheece Tunnell as Senior Underwriters Construction. Mr Sulser formerly held roles at QBE, Zurich and Pen Underwriting, while Mr Tunnell has worked at ATC Insurance Solutions, Mecon Insurance, Allianz and Lumley. 

“We’ve hired a strong team to ensure we can provide brokers with market-leading service to match our product,” Ms Vagi said, adding brokers can complete auto-quotes in six minutes and see “very rapid” turnaround times on referrals. 

“That has been the secret to our success in Strata, where we’ve achieved a 94% satisfaction score,” Ms Vagi said. Hutch released a residential strata product with cyber six months ago. 

Hutch deals exclusively via brokers and offers its products digitally via Ebix Sunrise Exchange. 

“We’re very pleased to be able to offer brokers another option in the very tight construction market, and we hope our unique coverage, focus on service, and the efficiency of Sunrise integration will prove real differentiators,” Hutch CEO Robin Johnson said.