This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is builder's risk insurance, and why is it purchased? What will be an ideal ... (Read 8 times)

mckennatimberlake

  • Hero Member
  • *****
  • Posts: 559
on: Jul 26, 2018
What is builder's risk insurance, and why is it purchased?
 
  What will be an ideal response?

Question 2

What is the difference between occurrence-based and claims-based liability insurance policies?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Kingjoffery

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jul 26, 2018
Answer to Question 1

Builder's risk insurance is first-party insurance that provides coverage for the cost of damages to a project under construction including temporary construction and materials stored on site.

Answer to Question 2

An occurrence-based polity provides coverage regardless of when the claim is made provided that the insured occurrence took place during the policy period. A claims-based policy covers only claims made during the policy period, irrespective of when the insured occurrence occurred.


mckennatimberlake

  • Member
  • Posts: 559
Reply 2 on: Jul 26, 2018
Wow, this really help

vickybb89

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Alterable and unalterable risk factors for hypertension. Alterable and unalterable risk factors for hypertension.
Increased risk of trisomy with maternal age. Increased risk of trisomy with maternal age.
Cultures Ideal Body Types Cultures Ideal Body Types
Selected High-Risk Drugs for Older Adults Selected High-Risk Drugs for Older Adults
How to avoid car insurance claims How to avoid car insurance claims
Major Risk Factors for Hypertension Major Risk Factors for Hypertension
Video: Effect of the environment on coat color in the Himalayan rabbit Animation

For a complete list of videos, visit our video library