Complexities of Builder's Risk Insurance Claims: Ownership of Policy, Amount and Type of Coverage
Evaluation of Policies Based on Pricing Considerations, Location, Environmental Factors, Type of Construction
Recording of a 90-minute CLE video webinar with Q&A
This CLE course will address the complexities of builder's risk insurance (BRI) coverage, including who should hold the policy (the owner or the contractor), how much coverage for property versus delay damage, and how to cover gross profits, loss of income, and continuing expenses. Our panel will provide expert advice on how to evaluate policies considering pricing, location, environmental variables, and type of construction.
Outline
- Ownership of policy
- Amount of coverage
- Property damage
- Delay claims
- Lost gross profits, loss of income, continuing expenses
- Physical damage or loss vs. mere defective workmanship
- Accidents and external causes
- Express exclusions for defective workmanship
- Inherent vice and latent defect exclusion
Benefits
The panel will review these and other crucial issues:
- How do stakeholders determine who should hold the BRI policy?
- What factors do courts look at in determining whether a construction defect has caused physical damage or loss triggering BRI coverage?
- How have courts determined whether to award property damage versus delay claims?
- How have courts interpreted ensuing lost gross profits, loss of income, and continuing expenses?
- How are claims by multiple insureds arising out of the same event or occurrence treated?
Faculty
James P. (Jamie) Bobotek
Partner
Pillsbury Winthrop Shaw Pittman
Mr. Bobotek guides clients through all phases of development and construction of commercial properties, including... | Read More
Mr. Bobotek guides clients through all phases of development and construction of commercial properties, including preparation, review and negotiation of development, design, construction, design-build, and related agreements. He also counsels clients in analyzing insurance coverage claims, formulating risk management strategies, and developing contractual insurance requirements. Mr. Bobotek has secured many favorable outcomes for commercial policyholders on CGL, builder’s risk, commercial property, business interruption, E&O, cyber, professional liability, D&O, pollution, fidelity and other claims.
Close
Matthew D. (Matt) Stockwell
Special Counsel
Pillsbury Winthrop Shaw Pittman
Mr. Stockwell is an experienced counselor and litigator and has handled high-profile insurance coverage and... | Read More
Mr. Stockwell is an experienced counselor and litigator and has handled high-profile insurance coverage and construction disputes. He represents construction companies, owners and developers in all aspects of contract negotiations, payment disputes and litigation. Mr. Stockwell focuses on avoiding potential conflict early, through procurement of insurance policies and in the contract stage, but has also assisted clients in recovering more than $250 million in litigation and arbitration.
Close