The Builders Risk Book - Print Edition

By: Steven A. CoombsDonald S. Malecki, CPCU
The Builders Risk Book - Print Edition

The Builders Risk Book - Print Edition

Product type: Book

Publication Date(s): 2010, 2019

Edition: Second

Case Citations: 120+

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Builders risk insurance is the backbone of every construction project's insurance program because it provides a means for critical funding to quickly repair damages following a loss and get the project back on track. With so much at stake, those who develop, underwrite, sell, and purchase such policies need authoritative resources to guide them in structuring builders risk policies and coverages that adequately respond to stakeholders' needs.

The Builders Risk Book delivers with an understanding of the laws governing builders risk insurance, knowledge of the risk exposures and contract requirements that must be satisfied, and specific advice for structuring the best coverage terms.It also provides key insight and practical guidance into a number of cutting-edge areas, such as delay coverage and green construction, that are barely touched by most other publications.

This edition has been updated to address changes in construction contract provisions and builders risk policy provisions and provides the latest builders risk court cases. Additional updates include the following:

  • Updated summaries of relevant state statutes
  • A new builders risk coverage checklist that includes soft construction costs
  • Revisions reflecting changes in builders risk policy forms and underwriting practices
  • More commentary, sample policy language, and court cases related to discussion of topics such as other insurance provisions and anti-waiver provisions

The content has also been expanded to include new topics including the following:

  • Application of valued policy laws to builders risk insurance
  • Anti-concurrent causation (ACC) language in builders risk policies
  • Alternative dispute resolution (ADR) provisions in builders risk policies
  • History of the concept of insurable interest
  • Requirement of direct physical damage in builders risk policies
  • Builders risk policy protective safeguards conditions
  • Liquidated damages coverage
  • Inherent defect coverage
  • Tax credits as a possible soft costs coverage item
  • The need to address additional insureds for delay in completion/soft costs coverage

Helpful all the way from groundbreaking through final closeout of the project and beyond, The Builders Risk Book also offers a myriad of suggestions for avoiding the pitfalls experienced by others, based on the authors' analyses of well over 100 cases (cited in the book) and their own personal experience.

  • The Builders Risk Book covers these topics.

    • Application of Valued Policy Laws to Builders Risk Insurance
    • ACC Language in Builders Risk Policies
    • ADR Provisions
    • History of the Concept of Insurable Interest
    • Requirement of Direct Physical Damage in Builders Risk Policies
    • Builders Risk Policy Protective Safeguards Conditions
    • Liquidated Damages Coverage
    • Inherent Defect Coverage
    • Tax Credits as Possible Soft Costs Coverage Item
    • Addressing Additional Insureds for Delay in Completion/Soft Costs Coverage
    • Introduction to Builders Risk Insurance
    • History of Builders Risk Insurance
    • State Regulations: Property vs. Inland Marine Insurance
    • Contractual Requirements
    • Builders Risk Policy vs. Other Property Insurance
    • Who Is Covered: Naming the Parties Appropriately
    • Covered Property, Covered Locations, and Coverage Period
    • Extensions and Optional Property Coverages
    • Covered and Excluded Causes of Loss
    • Other Exclusions
    • Subrogation Problems in Construction
    • Renovation Work
    • Installation Floaters and Rigging Coverage
    • Other Builders-Risk-Related Coverages
    • Delay in Project Completion
    • Green Building and the Role of Builders Risk Insurance
    • Comparison of Builders Risk Insurance Requirements

    Download Table of Contents

    Agents, Brokers, & Account Support Staff

    • Understand the different contract documents and provide meaningful advice to insureds and their advisers.
    • Know when to recommend a specific coverage and the reasons behind it.
    • Suggest meaningful coverage specifications using the material provided.
    • Provide guidelines on soft costs and the delay coverage components.

    Risk Managers, Financial Executives, & Insurance Buyers

    • Use the contractual provisions provided to draft meaningful insurance requirements for construction documents.
    • Use cutting-edge information to design and preserve soft costs and delay coverages.
    • Discern the advantages and disadvantages of owner and contractor provided policies.
    • Use excerpts to support provisions with brokers, underwriters, and claims adjusters.


    • Use the materials to better understand the needs of buyers.
    • Recognize opportunities to improve insurance products.
    • Understand what competitors are doing and why.
    • Know why policy issuance "quality control" is so crucial.
    • Recognize the importance of comparing contract documents with the builders risk policy.

    Claims Adjusters

    • Hone your knowledge of subtle policy language differences.
    • Become more aware of the differences between builders risk, installation floaters, and riggers policies.
    • Learn more about the concerns of the stakeholders.
    • Use the information provided to understand the different state laws and regulations governing the policies.


    • Be on top of changes impacting architects and engineers.
    • Understand the nuances of coverages and forms.
    • Get answers to questions on how the physical damage and time element pieces work together.


    • Use the information to serve as a catalyst for project risk assessment.
    • Become aware of the common pitfalls of using the owner’s property insurance in lieu of a builders risk policy.
    • Use the information as a resource to support recommendations.
    • Keep up on emerging loss exposures, such as with "green" construction projects.

    Insurance Product Developers

    • Learn more about the kind of policy language that fosters argument and litigation.
    • Find out what the competition is doing.
    • Use information to design more competitive products.