Jan 31, 2025 · The term "general conditions" is commonly misinterpreted when it comes to builders risk insurance coverage. And, when it comes to adjusting a claim, things can get …

Oct 11, 2019 · In the standard form agreements for construction, the owner attempts to shift the risk to the construction manager/general contractor (CM/GC) via various provisions, including …

Sep 15, 2021 · Since the sponsor, whether owner or construction manager/general contractor (CM/GC), is providing specified insurance coverages for work at the project site, they have a …

Mar 19, 2021 · Construction managers, general contractors, and subcontractors are routinely required to being insured under an owner-controlled insurance program (OCIP) or a contractor …

Aug 1, 2008 · The construction documents will usually require that the owner and the general contractor be covered by the same builders risk policy. All subcontractors of whatever level …

Oct 1, 2001 · Pricing On the issue of cost, default insurance is priced based on such factors as the contractor's experience, profitability, financial condition, reputation, and history of …

Oct 1, 2009 · OCP Liability Form The complete title of this general liability form is Owners and Contractors Protective Liability Coverage Form—Coverage for Operations of Designated …

Jun 22, 2018 · Contractor —One who contracts to do work or provide supplies to another. General Contractor —One who contracts for completion of the entire project, including purchasing all …

Mar 31, 2017 · 1. What Are the Current Insurance Market Conditions? A potential sponsor should consider current insurance market conditions, coverage availability, pricing, collateral …

Sep 29, 2023 · Alternatively, the sponsor is benefiting from a reduction in the cost of the work (insurance credit) as an offset for providing the wrap-up coverage. The insurance credit is …