Today, we’re thrilled to announce the launch of Shepherd’s Builder’s Risk program, reinforcing our commitment to supporting the construction industry with best-in-class insurance solutions. In association with Allianz, this new offering brings significant capacity and ensures superior protection for our partners and their projects.

Key Highlights of Shepherd’s Builder’s Risk:

• Capacity up to $75M, with the ability to extend coverage on certain risks

• Nationwide, admitted offering on AGCS Marine Insurance Company (A.M. Best rated A+) paper

• Tailored for general contractors, developers, and project owners

With this expansion, Shepherd will also strengthen its commitment to technology-driven underwriting, expanding our pioneering Shepherd Savings program into Builder’s Risk coverage. As always, we’ll continue to deliver a streamlined experience for brokers and insureds along the way. Our mission remains unchanged: to make construction safer and more sustainable through innovative commercial insurance solutions. Today, we’re one step further towards that goal, and couldn’t be more excited for the road ahead.

Target Appetite & Focus Areas

Shepherd’s Builder’s Risk program is designed to complement our in-force casualty offerings, which have grown significantly since launch in early 2022. Our appetite targets commercial risks, and largely focuses on non-combustible construction. Shepherd currently provides primary General Liability and supported lead excess (up to $10M) for large commercial projects. This Builder’s Risk offering will further enhance our robust suite of project-specific coverages. In addition to project-specific placements, we’ll support clients with Master Builder’s Risk programs, offering clients portfolio-wide rate and coverage certainty.

The nationwide program will primarily target non-combustible construction class, with selective support for wood frame and CAT-exposed regions. Our program limit of $75M will be deployed primarily in a lead position, offered as either a standalone coverage solution or quota share for larger placements. On a case-by-case basis, Shepherd will have the ability to support larger project types also on a standalone basis, up to $150M, subject to additional underwriting review.

Visit our appetite page to see a comprehensive guide: https://shepherdinsurance.com/products/builders-risk

Strong Momentum in Shepherd’s Casualty Lines

Since our inception, Shepherd has grown 3X annually in casualty lines, rapidly expanding our footprint in the construction insurance market. This includes 6-straight quarters of premium growth, driven by a 145% uptick in submissions during this same timeframe. Despite operating with a limited distribution of retail brokerage partners, we have consistently found opportunities to expand partner relationships with regional offices across the U.S. and plan to continue this retail-only approach with our new Builder’s Risk program.

Shepherd's current product suite targets middle market to major accounts and includes primary casualty lines: General Liability, Workers’ Compensation, and Commercial Auto, as well as Umbrella / Excess Casualty. Across all lines, we support comprehensive contractor programs as well as project specific placements (CCIPs, OCIPs, Joint-Ventures). Shepherd has consistently delivered innovative solutions tailored to meet the evolving needs of contractors and our partnerships have allowed us to scale efficiently while maintaining top-tier service.

Shepherd Savings for Builder’s Risk & Future Technology Partnerships

In 2024, we introduced Shepherd Savings, our proprietary premium-discount initiative rewarding builders who leverage proven construction technologies in their project delivery. We are proud to announce that Shepherd Savings is available for our Builder’s Risk policies, with immediate support for technology partners such as Procore and OpenSpace. By leveraging real-time project data and predictive analytics, Shepherd Savings allows insureds to achieve significant savings on their coverage upfront. Looking ahead, we will further expand Shepherd Savings through additional technology partnerships that help mitigate common Builder’s Risk exposures such as water/leak detection, fire prevention, and beyond. These enhancements will continue to bolster our underwriting capabilities and risk assessment tools. Stay tuned as we announce further additions to our growing marketplace of construction-insurance technology partners.

Ready Immediately for Appointed Brokers

Today is an important milestone for Shepherd, and we’re grateful for the support from our new partners in Allianz. But the real work begins now. Our underwriting team is ready to support customers with Casualty and Builder’s Risks requests beginning today. We will be accepting Builder’s Risk submissions from appointed brokers at: submissions@withshepherd.com.

To learn more about our Builder’s Risk offering and how it integrates into your comprehensive risk management strategy, visit our homepage, or reach out to our team today.