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builder's risk insurance

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Wikipedia 0.01 sec.
builder’s risk insurance
A specialized form of property insurance to cover work, 1 in the course of construction. Also see property insurance.


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For one, they had an anchor tenant, the Great American Insurance Group, which in addition to agreeing to rent 530,000 square feet of office space in the new tower, just happened--coincidentally or not--to offer a specialty in builder's risk insurance.
A builder's risk insurance will cover the replacement of the work in the event of a stated loss.
Weitz had obtained a commercial builder's risk insurance policy from Liberty Insurance Underwriters Inc.
 
 
 
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