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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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