" class="no-js "lang="en-US"> Builders & Tradesmen's Insurance Services (BTIS) Announces California Launch of VETA - an Exclusive Contractor Insurance Product - Fintech Finance
Monday, June 05, 2023
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Builders & Tradesmen’s Insurance Services (BTIS) Announces California Launch of VETA – an Exclusive Contractor Insurance Product

Builders & Tradesmen’s Insurance Services, Inc. (BTIS), an insurance intermediary focused on serving small businesses with end-to-end insurance solutions, is pleased to announce the launch of VETA, an exclusive General Liability insurance coverage option designed to meet the niche needs of construction remodelers and artisan contractors.

VETA is currently accessible in California, with nationwide availability planned later this year. More than 35 classes of construction trades are offered – including two separate remodeling classes, Interior and Interior & Exterior – to provide a tailored approach to different remodeling exposures. Bundled class codes and easy-add tool packages are just a few of the features that make this product distinct. Coverage is provided by an “A-IX” rated non-admitted carrier.

“BTIS is thrilled to be the exclusive provider of the unique VETA insurance product,” says Paul Holbein, Co-President of BTIS. “With 35+ 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 contractors 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 United States amounted to $418 billion in the third quarter of 2022 – an upward trend of spending that has been rising since 2015. As the demand increases for insurance coverage on these projects, it is crucial to address the liability concerns unique to this market.

“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.”

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