Key Takeaways:
- There is an increased frequency of denial of coverage for builders risk claims based on failed subjectivities and the more onerous nature of the subjectivities.
- To avoid this issue, those in the construction industry should: (1) confirm that all policy subjectivities can be complied with; (2) confirm each subjectivity is clear and readily understood; (3) develop procedures to confirm compliance with each subjectivity and monitor that compliance throughout the project;…