Builders Risk

CIRMA's Builders Risk Program: A Coverage Solution Built by Experts

Municipal and school construction projects are diverse and complex and may pose unique coverage challenges to their owners, ones that traditional property policies may not provide the best solution for. CIRMA's enhanced Builders Risk program is designed to meet rigid contract requirements and complex insurance needs for a wide variety of municipal and school construction projects, with coverage provided through Starr Specialty Insurance Company, an A.M. Best "A" rated carrier.

CIRMA's Builders Risk program is available to CIRMA Liability-Auto-Property pool members that have property coverage. The program provides all-risk coverage on a completed basis for:
 - Property in the course of construction;
 - If renovation, both the existing structure and the new construction. Coverage extends for the duration of the project.

Coverage Benefits
CIRMA's Builders Risk program provides replacement cost coverage for damaged property in the course of construction. Additional coverage extensions include:
    - Debris removal;
    - Professional fees;
    - Expediting/extra expense;
    - Partial occupancy;
    - Emergency property protection expense;
    - Ordinance and law;
    - Inland transit;
    - Offsite storage; and
    - Claim preparation expense;

The program also includes coverage for delay in completion / delay in start-up including:
    - Insurance premiums and bonds; and
    - Project administrative expenses.

An application must be completed for projects that are in excess of $5 million; $2 million if frame or joisted masonry. Contact your CIRMA Underwriter for more information about this program.