Product Family

NEW YORK, NY, September 26, 2012 – Containing more than two dozen coverage enhancements, XL Group’s Builder’s Risk and Installation Coverage Solutions or BRICS, offers expansive property insurance protection for single projects or multiple jobsites in North America.   


According to Rich DeSimone, President of XL Group’s North America Marine group, “This new policy eliminates a lot of questions, a lot of gray areas. XL Group has built a strong reputation for providing Builder’s Risk and Installation coverage for the most complex of construction projects.  Now, with our team of seasoned marine underwriters and our new BRICS policy, we’re pleased to extend that protection to meet the risk management needs for any entity with a project in the course of construction.”


XL Group’s BRICS coverage is available for a wide range of buyers including general contractors, owners, developers, and specialty trade contractors.  Through endorsements, BRICS can be tailored to meet an individual’s needs and may include:

  • Green Coverage
  • Contingent and Difference in Conditions
  • Rigger’s Liability
  • Existing Buildings or Structures
  • Soft Costs, Business Income and Extra Expense
  • Permission to Occupy
  • Equipment Breakdown
  • Flood, Earthquake and Volcanic Eruption


“BRICS provides more property protection in four major ways,” explained Alexander McGinley, Vice President of Inland Marine.  “The new policy form insures more types of property – some 11 types of property, including landscaping, signs, temporary structures, and even business personal property that supports the buyer’s operation, and includes labor costs, change orders, delivery charges, and reasonable profit and overhead.  It protects property at more locations, from more loss situations and with more protection. Projects we insure can range from new construction, renovation, rehabilitation, alteration, or additions to installation, repairs, improvements, erection, rigging, or millright.”   


BRICS protection takes into account additional potential sources of loss such as sewer and drain back up, sinkhole collapse, testing, voluntary parting and virus and harmful code, which are excluded in many Builder’s Risk policies.  The coverage also includes protection from variable costs that are often overlooked in other policies such as increase in construction costs, site preparation, extra and expediting expense, contract penalty, rewards, reimbursement for returning stolen property, loss adjustment expense, ordinance or law, fire department service charges or expenses related to debris removal, pollution cleanup, among others.


BRICS coverage is provided by XL Group’s insurance companies, XL Specialty Insurance Company and Indian Harbor Insurance Company.

About XL’s Insurance Operations

XL Group plc’s insurance companies offer property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit  

XL Group is the global brand used by XL Group plc’s insurance subsidiaries.

About XL Group plc

XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.   XL is the company clients look to for answers to their most complex risks and to help move their world forward. Its principal offices are located at No.1 Hatch Street Upper, 4th Floor, Dublin 2, Ireland. To learn more, visit