Builder’s Risk losses require specialized knowledge and handling with adjusters who recognize the intricacies of property and construction claims. Our team of experts offer loss valuation and mitigation, review of policy and contract documents, as well as proactive, detailed reporting. In addition, McLarens delivers a true partnership, grasping our client’s structure and requirements, delivering flexibility and innovation.
Understanding Builder’s Risk
- Coverage is for properties in the course of construction or renovation to become permanent along with the materials and equipment used.
- Coverage is based on a concept that may change during construction.
- Often there are multiple insureds involved, which have different insurable interests.
- Based on coverage, there may be sub-limits and categories for expediting: extra expense, contractor’s expense, contractor’s equipment, demolition and debris removal, soft costs, code upgrades, and others.
Our Builder’s Risk Specialties
- Dispute resolution for:
- cost of repairs
- delay period
- business interruption
- Time Element measurement:
- project completion date had no loss occurred
- amount of delay caused by loss
Vertical Markets Service
- Residential / Habitational
Our Client Partners
- Investment companies / property owners