all risks, difference-in-conditions (builders risk)
A policy maintained by a general contractor (or subcontractor) to fill coverage
gaps created by a project owner's (or general contractor's) maintenance of its
own builders risk program. Often the owner (or general contractor) will purchase
builders risk insurance on a particular project that is not as broad as the
coverage that the general contractor (or subcontractor) ordinarily purchases,
or that has a much higher deductible than the general contractor (or subcontractor)
ordinarily purchases. In such cases, the general contractor (or subcontractor)
can purchase a builders risk difference-in-conditions (DIC) policy that covers any
loss excluded or under the deductible of the owner's or general contractor's
program—subject to the exclusions and deductible in the DIC
policy.
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