The Builders Risk Book

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

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The Builders Risk Book

Product type: 1-Year Subscription

Publication Date(s): 2010, 2019

Case Citations: 120+

Part of: Books Package

Discount: Prices shown include a 5% discount for choosing the annual payments option

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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 versus Inland Marine Insurance
  • Contractual Requirements
  • Builders Risk Policy versus 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

Claims Managers, Adjusters and Adjuster Trainees

  • Gain a better understanding of all claims operations and how the operations interrelate with other departments.
  • Learn the details of the variety of claims operations in different risk financing structures, such as captive insurance companies.
  • You'll be able to gauge the results of proper claims staffing on the claims operation, and the impact from utilizing an effective staffing model.
  • Understand the impact of reserve management on profitability or loss.
  • Takes the mystery out of third-party claim administration (TPA) operations.
  • New adjusters will receive a consolidated understanding of the claims process. Perfect for a claims trainee program.
  • Claims adjusters and claims managers will better understand each other's role in the claims process and their combined impact on results.

Claims Executives & Insurance Buyers

  • Achieve a balance between adequate adjuster caseloads and meeting budgetary constraints.
  • Understand the TPA pricing models and factors impacting pricing.
  • Learn how increased staffing with manageable caseloads can positively impact results with reduced loss costs.
  • Provide guidance with a "best practices" claim model.
  • Implement a best-in-class claims trainee program.

TPA Management

  • An excellent resource for understanding the TPA operations and their impact on the core services provided of technical claims handling and claims management.
  • Understand the effect of inadequate pricing on results and client retention.
  • See examples of adverse results from improper or inadequate staffing decisions.
  • Learn how improper claims handling can affect the financial stability of the company with errors and omissions and poor quality.

Insurance Agents, Brokers and Claim CSRs

  • Learn how claims investigations and reserves impact results.
  • Get the right questions to ask about claims operations and their impact on your agency.
  • Understand what is behind the loss run numbers and if the incurred losses are adversely affected by the claims operation.
  • Gain insight into whether the insured’s workers compensation experience modification factor is adversely affected by the claims operation.

Risk Managers

  • Outlines how to develop a company-owned claims facility to handle claims within self-insured retentions.
  • Understand how improper claims handling can affect the financial stability of the company.
  • Gain insight into whether the insured's workers compensation experience modification factor is adversely affected by the claims operation.
  • Learn how claims investigations and reserves impact results.
  • Provides a practical guide to which questions to ask during the selection process for insurers.


  • Learn how results are impacted by claims handling (re: loss ratios) and claims investigations as the basis for claims reserves.
  • Understand why adequate staffing is so important in a claims operation and how it impacts underwriting results.
  • Gain a better understanding of how claim reserves are established, including the evaluation basis for bodily injury case reserves.
  • Provides guidance for a "best practices" model.
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Your purchase of an IRMI reference product includes a complimentary subscription to The Electronic Owl e-newsletter. You'll receive a monthly update with links to new content and tips on how to get the most from your IRMI resources.

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Your purchase of the online version of The Builders Risk Book comes with a digital copy of the Contractor's Guide to CIPs—a handy reference that provides guidance on 38 issues contractors should consider when accepting coverage through a wrap-up or controlled insurance program.