Aon introduces new Bermuda-based liability capacity for US construction projects

Core Insights - Aon plc has launched the Bermuda Insurance Liability Top-Up (BILT) to enhance excess casualty capacity for US construction projects [1][2] - The facility offers up to $50 million in additional coverage above a minimum $100 million attachment point, targeting project-specific construction risks [2] - The US construction market is expected to grow due to shifts in interest rates and significant investments in sectors like data centers and healthcare [2] Group 1 - BILT is a first-of-its-kind facility in the Bermuda market, providing a large block of efficiently placed casualty capacity supported by experienced local insurers [3] - Underwriting and claims management for BILT are led by Chubb, with participation from highly rated Bermuda insurers such as Arch, Ascot, AXA XL, Hamilton, and Liberty Mutual [3] - Coverage terms for BILT can extend up to seven years, with completed operations coverage available for up to 10 years or aligned with the applicable statute of limitations [3] Group 2 - BILT expands on Aon's existing London-based Liability Facility Top-Up (LiFT), allowing for a combined total of up to $100 million in US casualty capacity for construction projects [4] - Participation in LiFT is not required to access BILT, as BILT operates as a standalone facility within the Bermuda market [4]