At the time of that incident, Extell was the named insured on a program of builder's risk insurance
containing coverage in the amount of $700 million, that is, the total estimated cost of the project.
They then sought to obtain a builder's risk insurance
Many construction contracts require the owner of the property to procure builder's risk insurance
which covers damage to the portion of the property where the work is to be performed by the contractor.
In addition, Chappell helped the insurance group leader obtain automatic builder's risk insurance
for projects under $50 million while doubling the number of carders participating in the quota share and layered program from nine to 18.
bodes well for the continued availability of comprehensive builder's risk insurance
at an affordable price.