difference-in-conditions (DIC) insurance
(1) An all risks property insurance policy that is purchased
in addition to a commercial property policy to obtain coverage for
perils not insured against in the commercial property policy (usually
flood and earthquake). (2) An endorsement to a contractor's blanket
builders risk insurance policy that fills the gaps between a policy
provided by the project owner and the contractor's policy. When
a project owner elects to provide the builders risk coverage for
all parties with an insurable interest, the project is normally
removed from coverage under the contractor's policy. A DIC endorsement
typically states that, to the extent a loss is not covered under
the owner-provided policy, but would be covered under the contractor's
policy, coverage will apply on an excess basis.
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CPI VII.D;
CRM X.I