• CSC20logograyorangenoyear
  • Conference
      • About
        • About the Conference
        • Floor Plan / Sponsor List
        • Sponsors
        • FAQ
        • Contact Us
        • Health & Safety
      • Hotel & Travel
        • Hotel Accommodations
        • Travel Information
      • Attend
        • Why Attend?
        • Registration & Pricing
        • Conference Schedule
        • MCLE Accreditation
        • Speakers
        • Speaker Resources
      • Sponsor
        • Why Sponsor?
        • Sponsor / Inquire
        • Sponsor Resource Center
        • Sponsorship & Advertising
  • News
    • Latest News
  • Subscribe
    • Newsletter Signup
    • Show Updates
  • .
  • Conference
    • About
      • About the Conference
      • Floor Plan / Sponsor List
      • Sponsors
      • FAQ
      • Contact Us
      • Health & Safety
    • Attend
      • Why Attend?
      • Registration & Pricing
      • Conference Schedule
      • MCLE Accreditation
      • Speakers
      • Speaker Resources
    • Sponsor
      • Why Sponsor?
      • Sponsor / Inquire
      • Sponsor Resource Center
      • Sponsorship & Advertising
    • Hotel & Travel
      • Hotel Accommodations
      • Travel Information
  • News
    • Latest News
  • Subscribe
    • Newsletter Signup
    • Show Updates

December 4—6, 2023
Hilton Miami Downtown, Miami, FL

Register Sponsor / Inquire
Q
POPULAR SEARCHES
News + Features
News + Features
News + Features
News + Features
News + Features
News + Features

Latest News

October 11, 2017

Builders’ Risk Claims and Deadlines Extensions Related to Hurricanes Harvey and Irma

Latest News
Economic Forecasts | Ethics and Compliance | Infrastructure and Transportation | Insurance and Surety | Latest News | Litigation Strategies/Dispute Resolution | News | Risk & Contract Management | Workforce and Labor
October 11, 2017

Builders’ Risk Claims and Deadlines Extensions Related to Hurricanes Harvey and Irma

Coverage depends upon the cause of the damage.

Two articles by Scott Van Voorhis in ENR.com discuss the insurance ramifications for contractors with projects affected by hurricanes Harvey and Irma. He addresses two related issues— builders’ risk coverage for property damage and contract deadline extensions.

According to Mr. Van Voorhis, “details tucked away in builder’s risk policies may spell the difference between financial relief and hardship for some contractors…The key issue is whether the damage was caused by ‘flood’ or by wind-driven rain or other sources, which can determine significantly how much the policy will pay towards repairing the damage.”

Definitions in a builders’ risk policy for each term establish the basis for the extent of coverage provided by insurers. There will almost certainly be litigation regarding the appropriate meaning of each term.

Both construction and insurance industry experts expect months of negotiations and litigation before settlements are forwarded to contractors.

Most construction contracts have a “force majeure” clause that allows contractors to renegotiate project deadlines if an “unforeseen natural disaster” makes it impossible to meet the deadline stipulations of the original contract.

“J.P. Vogel, partner at the law firm Gray Reed &McGraw,” explains that contractors must send the owner a “force majeure” letter to initiate a request for deadline extensions. This must be done as soon as possible after the disaster. “Some contractors will try to invoke the force majeure clause but will have no record of having done so earlier in the storm’s aftermath, making it harder to bargain” with the insurance provider. The settlement amount for these claims is also determined by whether flooding or wind-driven damage is determined to be the force majeure.

The author stresses, in both articles, that contractors who filed claims early are most likely to obtain satisfactory compensation for their losses.

Source—

After Hurricane Harvey, What Will Your Builder’s Risk Policy Pay For? Scott Van Voorhis, enr.com, Sept. 6, 2017.

Contractors in Hurricane Areas Will Seek Deadline Extensions, Scott Van Voorhis, enr.com, Sept. 20, 2017.

Economic Forecasts•Ethics and Compliance•Infrastructure and Transportation•Insurance and Surety•Latest News•Litigation Strategies/Dispute Resolution•News•Risk & Contract Management•Workforce and Labor

SHARE

Share on Email
Share on Linkedin
Share on Facebook
Share on Pinterest
Share on Twitter
← Previous Article Next Article →
Latest News Latest NewsNews

Survey: Optimism Dims For Private Sector Construction

ARLINGTON, VA - Construction contractors are less optimistic about many private-sector segments than they were a year ago, but their expectations for the public sector market have remained relatively bullish.

Latest News Latest NewsNews

Analysis: Restrictive Covenants And Non-Competes

RIVER EDGE, N.J. - The legal landscape with regard to non-compete agreements and other types of restrictive covenants has been tenuous for decades.

Latest News Latest NewsNews

Survey: Optimism Dims For Private Sector Construction

ARLINGTON, VA - Construction contractors are less optimistic about many private-sector segments than they were a year ago, but their expectations for the public sector market have remained relatively bullish.

Latest News Latest NewsNews

No Non-Compete: Good Or Bad Idea?

WASHINGTON, D.C. – With the new year came a newly proposed “no non-compete” rule from the FTC.

Latest News Latest NewsNews

Images From CSC 2022

LAS VEGAS - The next CSC is scheduled for Dec. 4-6, 2023 in Miami, but first here is a look back at images from Vegas.

Latest News Latest NewsNews

CSC 2022 – Heightened Focus On Design Practice

LAS VEGAS - This year’s Construction Super Conference is now in the books, and it was excellent. It was one of the better ones, in fact, that I’ve been to in a while.

Latest News Latest NewsNews

CSC 2022 – Force Majeure, Supply Chain, And More

LAS VEGAS - I just attended another great Construction Super Conference event in Las Vegas. It certainly feels as though the “new normal” is “back to normal.”

Latest News Latest NewsNews

CSC 2022 Networking Opportunities Abound

LAS VEGAS – Educational sessions are top notch at Construction Super Conference (CSC), but attendance at CSC is also a great opportunity to solidify existing relationships and build new ones at stellar networking events.

SHOW INFORMATION

SIGN UP

Register now for the opportunity to connect with thousands of atttendees and vendors

Register
Sponsor / Inquire
FOLLOW US ON
  • Follow
  • Follow
  • Follow
© 2023 Emerald X, LLC. All Rights Reserved.

ABOUT    CAREERS    AUTHORIZED SERVICE PROVIDERS   TERMS OF USE   PRIVACY POLICY