This CLE webinar 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.
Construction projects are subject to accidents and defects that are typically costly and complicated and often result in hotly fought and extended battles over BRI coverage. It is crucial to determine whether there is builders' risk coverage for defective workmanship and who holds that policy--either can affect what type of claim to file.
Many legal issues impact BRI recovery for construction accidents or defects caused by defective workmanship, in part due to no standard form BRI policy, so coverage is sometimes dependent on subtle distinctions in BRI policy terms and language. Therefore, this language needs to be negotiated and reviewed before starting the project.
Counsel representing construction owners, contractors, and insurance companies must understand critical issues such as defective workmanship, accidents, and external causes, the applicability of exclusions such as those for defective workmanship, exceptions to those exclusions, business interruption or soft costs coverage, as well as "other insurance," and priority of coverage arguments. Counsel must address how much coverage to maintain and how to allocate the losses.
Listen as our authoritative panel of construction attorneys analyzes how to determine proper insurance coverage for construction accidents and what language considerations to include for specific provisions. The panel will discuss critical issues that impact potential recovery, including defective workmanship, accidents and external causes, express exclusions for defective workmanship, and the inherent vice and latent defect exclusion.
I. Ownership of policy
II. Amount of coverage
A. Property damage
B. Delay claims
1. Lost gross profits, loss of income, continuing expenses
III. Physical damage or loss vs. mere defective workmanship
IV. Accidents and external causes
V. Express exclusions for defective workmanship
VI. Inherent vice and latent defect exclusion
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?
Celia B. Waters - Attorney: Saxe Doernberger & Vita, P.C.
Phil Brown-Wilusz - Attorney: Saxe Doernberger & Vita, P.C.
James P. Bobotek - Partner: Pillsbury Winthrop Shaw Pittman
Click here to learn more and to register today with our 50% discount included!