David McLain | Higgins, Hopkins, McLain & Roswell In the recent case of 5333 Mattress King LLC v. Hanover Insurance Company, the United States District Court for the District of Colorado provided significant insights into the limits of builders’ risk insurance policies. Mattress King LLC, a warehouse owner, faced a substantial loss when a subcontractor drove… Continue reading Real Case, Real Lessons: Understanding Builders’ Risk Insurance Limits
Tag: Builders Risk Insurance Coverage
Lesser-Known Insurance Policies for Addressing Project Risks
Sean C. Gay | Stoel Rives Construction projects involve significant risks to project owners, designers, and contractors. Many such risks are allocated in the parties’ contracts, which in turn require those parties to obtain insurance—further allocating risks to insurance companies. By providing coverage for losses and collecting premiums, insurers help those parties protect against financial… Continue reading Lesser-Known Insurance Policies for Addressing Project Risks
An Occurrence Under Builder’s Risk Insurance Policy is Based on the Language in the Policy
David Adelstein | Florida Construction Legal Updates Builder’s risk insurance coverage is a vital property insurance coverage during the course of construction. Builder’s risk insurance is not a one-size-fits-all product so please make sure you are working with your insurance broker to procure this product that factors in and covers risk associated with the project. Builder’s risk insurance is… Continue reading An Occurrence Under Builder’s Risk Insurance Policy is Based on the Language in the Policy