|
CONSTRUCTION INSURANCE
Updated:
Monday, July 21, 2008 08:44 AM
When a building is
accepted as substantially complete, the contractor
generally requests to be released from the
Builder's Risk policy. CAMs or PMs
coordinate that notification to the Risk Management
Office. UVA picks up Builder's Risk insurance
coverage from the time it is agreed that the project
is substantially complete, and quite often this
coincides with the occupancy of the new space. The
contractor continues to carry Liability,
Workman's Comp, and Auto Insurance for the
punch-list time period.
|
