The Battle Between "Blanket" Additional Insured Endorsement and the Underlying Contract

Posted by Purnima Rangarajan on Apr 7, 2015 2:21:47 PM

The construction and real estate industry continue to grow and so do the risk exposures from a fundamental inconsistency between a contract’s commercial intent and insurance policy language. “Additional Insured” is a very common requirement in a real estate or construction contract and many times there is a distinct lack of specificity with what is, actually, being required and why the provision is appropriate.  Additional Insured status provides vicarious liability coverage to an outside entity, usually, an owner or general contractor, under the subcontractor’s policy. It is often a requirement in construction contracts, and it can be the source of insurance disputes if not handled correctly given the changes in the regulatory framework of today’s insurance policies.

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Topics: Construction, Construction Accidents, Construction Premiums, Construction Project Risk, Insurance, Limit of Liability, Property Risk, Real Estate, Risk management, Risk Management Blog, Strategic Risk Management, The ALS Group, Total Cost of Risk

Determining Soft Costs Coverage Under Builders Risk Policy

Posted by Purnima Rangarajan on Feb 4, 2015 12:41:30 PM

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Soft cost or delay in the project completion coverage has been a hot topic of discussion and concern, recently, due to the unique claims scenarios that occur during a construction phase of a project. At first glance, the term “soft costs” seems easy to explain; however, it is a complex subject.

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Topics: Construction, Construction Premiums, Construction Project Risk, Real Estate, Risk Management Blog, Strategic Risk Management, The ALS Group

Construction Accidents in NYC Impact Insurance Costs for Building Owners

Posted by Albert Sica on Jul 24, 2012 10:49:45 AM

The recent spate of construction site accidents in New York City in the past several months couldn’t have come at a worse time.

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Topics: Construction, Construction Accidents, Construction Premiums, Risk Management Blog, Total Cost of Risk (TCoR)

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