What is the product?

AXA XL’s North America Construction business has developed tailored builders risk insurance programmes to address clients’ mass timber project risks.

How does it support green outcomes?

Mass timber, which includes cross-laminated timber (CLT) is gaining popularity in North America. It’s also considered a more sustainable building material; according to the Wood Council, replacing steel with mass timber would reduce carbon dioxide emissions by 15% to 20%. The process of manufacturing timber uses substantially less fossil fuel energy per unit volume than steel, concrete, or aluminum, meaning that timber has a lower carbon footprint.

Through providing insurance coverage specific to mass timber project risks, AXA XL can support its clients in managing their risks and accelerating the use of cross-laminated timber across construction projects.