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 9 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
YES! Correct, THANKS for helping me on my review

irishcancer18

  • Member
  • Posts: 310
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Alterable and unalterable risk factors for hypertension. Alterable and unalterable risk factors for hypertension.
Reduce Risk of Unintentional Injury Reduce Risk of Unintentional Injury
Risk factors for suicide. Risk factors for suicide.
Risk & Aseptic Processing - RABs Filling Line Risk & Aseptic Processing - RABs Filling Line
The relationship between maternal age and the frequency of trisomy 21 (Down syndrome). The risk incr The relationship between maternal age and the frequency of trisomy 21 (Down syndrome). The risk incr
Increased Risk of Knee Osteoarthritis Increased Risk of Knee Osteoarthritis
Video: Introduction to Eating Disorders

For a complete list of videos, visit our video library