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Level: Intermediate
TCM Section(s): 6.4. Forensic Performance Assessment
Venue: 2020 AACE International Conference & Expo
Abstract: Owners and contractors know to turn to their contract for the “rules of the road” when preparing or evaluating construction claims.The evaluation of a delay claim made under a builder’s risk insurance policy also involves the terms contained in the project’s builder’s risk policy and endorsements, which may differ greatly from the terms of the construction contract, and that are often unfamiliar to many project stakeholders.This paper will discuss the differences between conventional delay claim preparation and that which is customary for insurer acceptance following builder’s risk losses.The analysis will include a discussion of commonly used insurance policy terms, a comparison of delay analysis methodologies, and a discussion of how time-related costs are evaluated in a builder’s risk context.
TCM Section(s): 6.4. Forensic Performance Assessment
Venue: 2020 AACE International Conference & Expo
Abstract: Owners and contractors know to turn to their contract for the “rules of the road” when preparing or evaluating construction claims.The evaluation of a delay claim made under a builder’s risk insurance policy also involves the terms contained in the project’s builder’s risk policy and endorsements, which may differ greatly from the terms of the construction contract, and that are often unfamiliar to many project stakeholders.This paper will discuss the differences between conventional delay claim preparation and that which is customary for insurer acceptance following builder’s risk losses.The analysis will include a discussion of commonly used insurance policy terms, a comparison of delay analysis methodologies, and a discussion of how time-related costs are evaluated in a builder’s risk context.