Reports & Papers-Builders Risk Guide to Loss Prevention Part Five: Claims

Builders Risk Guide to Loss Prevention Part Five: Claims

Pdf Summary

The document is a guide to loss prevention in Builder's Risk insurance prepared by the Inland Marine Underwriters Association. It covers aspects from claims handling to coverage reviews, investigation processes, and recovery procedures. The report emphasizes the importance of reviewing insurance policies thoroughly, engaging experts like construction consultants, architects, and engineers, and documenting all aspects of the claim. It discusses the significance of soft costs coverage and time element or business interruption loss determination in the adjustment process. The document also delves into recovery and subrogation potential, providing guidance on navigating through challenging claim investigations. Furthermore, it lists useful website resources related to the construction and insurance industries for additional support and reference. Overall, the guide serves as a comprehensive resource for claims adjusters dealing with Builder's Risk insurance claims, outlining necessary steps, considerations, and best practices to ensure efficient and effective claims management.

Keywords

Loss prevention

Builder's Risk insurance

Claims handling

Coverage reviews

Investigation processes

Recovery procedures

Soft costs coverage

Business interruption loss determination

Subrogation potential

Claim investigations