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all risks, difference-in-conditions

All risks difference-in-conditions (DIC) coverage is an enhancement to a contractor's master builders risk policy to ensure the contractor's scope of coverage when the builders risk policy provided by an upstream party is less broad than the contractor's policy.

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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 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.

Related Terms

All risks coverage is property insurance covering loss arising from any fortuitous cause except...