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WINT and HSB offer water damage warranty to protect contractors and developers from rising water damage costs

<strong>WINT and HSB offer water damage warranty to protect contractors and developers from rising water damage costs</strong>

WINT Water Intelligence, a leader in cutting-edge water management and leak-prevention solutions for construction, commercial, residential and industrial applications, and HSB, a multi-line specialty insurer that is part of the Munich Re family, announce the launch of a groundbreaking initiative to protect general contractors and developers from the steeply rising costs of water damage in the construction industry.

Water damage continues to be a source of significant risk in buildings and on job sites. As insurers face rising payouts for water damage claims, deductibles have climbed sharply, resulting in a severe impact on profitability for contractors and developers. The new partnership provides financial relief of up to $250,000 through an industry-first warranty program leveraging HSB’s extensive data-based insurance solutions and WINT’s advanced AI-based leak-mitigation technology.

The innovative HSB warranty program is available for contractors and developers who use WINT to protect job sites from water damage. In the event the WINT system fails to prevent water leak damage, HSB will reimburse the cost of resulting water damage up to $250,000.00, therefore significantly reducing exposure to high deductibles that are very common in the market.

Our customers – both GCs and developers, have been expressing concerns about the cost of water damage deductibles and the impact it may have on their business,” said Yaron Dycian, chief product and strategy officer for WINT. “We’re proud that Munich Re and HSB have recognized the effectiveness of our water-management technology and were greatly impressed by their expertise in building IoT-based insurance solutions. It’s exciting to partner with such a market leader to solve such a major challenge for our customers.”

HSB, a member of Munich Re’s Risk Solutions family, is a leading global engineering and technical risk insurer providing reinsurance and specialty insurance, inspection services and engineering consulting.