Nuts & Bolts: Abram Interstate Insurance Services Inc. has a new market for course of construction and builders risk. The policy is tailored for residential and commercial properties. Features include all risk coverage (subject to exclusions), debris removal, pollution cleanup, coverage for trees and plants. Additional coverage is available upon request including transit, temporary storage coverage, earth movement, flood, soft costs, loss of rental income and permission to occupy. Reporting form is available (Minimum 10 projects per year, $5 million in values or receipts per year). Coverage can be written on new construction, construction already in process and renovations. Abram Interstate claims a quick turnaround on quotes, coverage binders and policy issuance.
Deductibles are $500 for residential and $1000 for commercial.
North American Specialty Ins. Co. rated “A+” XV, admitted.
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