Builder's Risk Flashcards
(9 cards)
1
Q
Builder’s Risk Structure Types
A
- Completed Value Basis
- Reporting Form Basis
2
Q
Builder’s Risk Insureds
A
- Project Owner/Developer
- General Contractor
- Subcontractors
- Construction Manager
- Architects/Engineers
- Material Suppliers
- Mortgagess/Lenders
3
Q
Builder’s Risk Covered Property Types
A
- Property that will become a permanent part of described project
- other property that will not (temp structures/works)
4
Q
Builder’s Risk Supplemental Coverages
A
- Temporary Storage Locations
- Transit
- Expediting Expenses
- Expenses to Re-Erect Scaffolding
- Fire Department Service Charge
- Ordinance/Law
- Pollutant Clean Up
- Sewer Back Up
5
Q
Builder’s Risk Property Not Covered
A
- Contraband
- Land
- Property Not a Permanent Part of Building
- Roadways/Walkways
- Trees/Shrubs/Plants
- Waterborne Property
- Standing/Existing Building
6
Q
Builder’s Risk Coverage Extensions
A
- Debris Removal
- Emergency Removal
- Fraud/Deceit
- Limited Fungus Coverage
7
Q
Builder’s Risk Coverage Exclusions (Group 1)
A
- Civil Authority
- Earth Movement
- Flood
- Fungus
5.Nuclear - Ordinance/Law
7.Water Back Up - War/Military Actions
8
Q
Builder’s Risk Coverage Exclusions (Group 2)
A
- Contamination/Deterioration
- Criminal, Fraudulent, Dishonest, Illegal Acts
- Defects, Errors, Omissions
- Delay in Completion/Increased Construction Costs
- Electrical Currents
- Loss of Use/Consequential Loss
- Mechanical Breakdown
- Missing Property
- Pollutants
- Steam Boiler Explosion
- Temperature/Humidity
- Voluntary Parting
- Wear & Tear
- Equipment Breakdown/Testing Issues
9
Q
Builder’s Risk Coverage Ends
A
- Policy Expires/Cancelled
- covered buildings/structures are accepted by the purchaser
- your insurable interest in covered property ceases
- you abandon construction with no intent to complete
- covered buildings/structures have been completed for more than 90 days
