Keyword
builder's risk
One key difference between a builders’ risk policy and a liability policy
August 30, 2022 by David GambrillStarr Insurance & Reinsurance Limited does not have to defend its insured in a Quebec construction case, because its builders’ risk policy is essentially a property policy, not a liability policy, Quebec’s Superior Court has ruled. In construction, a builders’…
Paid Steering the Course: Course of Construction (COC) Insurance Options
August 28, 2018 Neil Jeanson, Senior Class Underwriter, XL CatlinAll it takes is a spark. From a sander. Or errant cigarette. And POW! Igniting common, flammable construction materials like wood, solvents, packaging, and gasoline and turning a work in progress to a pile of ash. It’s a powerful blow…
3 tips for advising your clients about construction work
January 12, 2018 by Greg MeckbachBrokers advising property owners should bear in mind their clients may not be experts on construction and renovation, a managing general agency warns. Keeping this mind, brokers can guide clients through three processes when hiring contractors to do construction or…
XL Catlin quadruples North American builder’s risk capacity to US$1 billion
March 9, 2017 by Canadian UnderwriterXL Catlin announced on Wednesday that it has quadrupled its builder’s risk insurance capacity to US$1 billion from US$250 million for construction firms in North America. The increased coverage for high-value commercial real estate projects is the result of a…
Builder’s risk policy must cover windows damaged by cleaning on building under construction: Supreme Court of Canada
September 16, 2016 by Canadian UnderwriterInsurance firms writing an all risks policy for an office building under construction in Edmonton must cover the multi-million dollar cost of replacing windows damaged by cleaning, despite an exclusion for “the cost of making good faulty workmanship,” the Supreme…