builder's risk insurance

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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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Gloria testified she scheduled the meeting because they needed a builder's risk insurance policy to obtain a $234,000 mortgage from their bank.
Weitz had obtained a commercial builder's risk insurance policy from Liberty Insurance Underwriters Inc.
Purchased by a single entity and administered by the same broker and insurance company, this coverage typically includes general liability, excess liability, builder's risk insurance and workers' compensation.
In his lawsuit, Defoe argues that his insurer was negligent because it failed to procure builder's risk insurance and activate it in a timely fashion.
Should you buy builder's risk insurance or assume the risk of constructing the new building yourself?
Editorial covers such topics as: construction lending, including lender liability, insurance and indemnification issues, including builder's risk insurance, commercial general liability insurance and worker's compensation, building codes, requirements, violations and building official liability, construction industry bands and sureties, defenses available to a construction industry surety, bad faith, and, design services agreements.