Builders Risk News Roundup: May 2023

1) Inflation Guard Eligibility

The inflation guard coverage endorsement can now be secured online for residential and commercial new construction and remodeling projects valued up to $75 million.

2) Inflation Guard Explanation

Different from our contract change order endorsement where the cost of materials increases at the owner’s direction, our inflation guard endorsement covers the unexpected rise in price of materials being installed throughout the course of construction.

3) Inflation Guard Function

While this optional coverage serves as a safety net for unforeseen material cost increases, it is not a replacement for endorsing the policy when the total completed value changes.

See you next month when we deliver another roundup of product news. Until then, you can find more training tools for you and your team in our resource center.

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