Builders & Tradesmen’s Insurance Services (BTIS), an insurance intermediary focused on serving small businesses, has announced the launch of a general liability insurance product for construction remodelers and artisan contractors.
The product, called VETA, is currently available in California, with a nationwide rollout planned for later this year.
The product is available to more than 35 classes of construction trades – including two separate remodeling classes, interior and interior & exterior – to provide a customized approach to different remodeling exposures, BTIS said.
“BTIS is thrilled to be the exclusive provider of the unique VETA insurance product,” said Paul Hohlbein, co-president of BTIS. “With 35-plus class codes and new construction allowed on all classes, including framers, we are making it easier than ever before for agents to secure the right contactors’ coverage for the job. We look forward to expanding the reach of this unparalleled product to bring security to a wide range of contractor businesses.”
Remodeling expenditures in the US reached $418 billion in the third quarter of 2022, continuing an upward trend that has been rising since 2015, the company said.
Read next: Why builders’ risk is “not a luxury coverage”
“BTIS is already known in the industry for providing superior insurance products, and the addition of VetA adds even more variety to our robust list of offerings,” said Philip Massaro, vice president of underwriting at BTIS. “By offering a unique coverage solution with a laser focus on remodelers, we hope to supply a product that meets the current demands of the industry in an effective, streamlined manner.”
BTIS is one of Insurance Business’s 5-Star Wholesale Brokers and MGAs for 2023. Last year, the company partnered with At-Bay to launch a cyber insurance marketplace.
Have something to say about this story? Let us know in the comments below.
