Whenever a Contractor advises the University that it intends to cancel the
Builder’s Risk Insurance policy it is carrying on a particular project,
(which is usually at Substantial Completion acceptance by the A/E &
the University and often coincides with occupancy) it is the responsibility
of the CAM and/or PM to immediately notify the University’s Office of Risk
Management. Formal notification may also be accomplished by copying
Risk Management on the completed HECO-13.3. Risk Management is then
responsible for placing the new building on the University Master
Insurance Policies or, in the case of renovations, adjusting the value of the
space. The Contractor continues to carry Liability, Workman's
Comp, & Auto Insurance during the punch-list time period.
CO-7DB, GENERAL CONDITIONS REFERENCES
- for Design Build
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SECTION 11(e) - CONTRACTOR'S & SUBCONTRACTOR'S INSURANCE
- for A/E's
UVA RISK MANAGEMENT
PowerPoint Presentation to FP&C
- September 2008
Office of Risk Management Website
◦
Insurance & Self-Insurance Coverages
◦
Loss Prevention
◦
Claims Information
