A new builders' risk policy from XL Group looks to get rid ofthe “gray areas,” says the insurer.

XL Group's Builder's Risk and Installation Coverage Solutions(BRICS) contains more than two dozen property insurancecoverage enhancements for single projects or multiple jobsitesin North America.

The new policy form insures more types of property includinglandscaping, signs, temporary structures, and businesspersonal property. It includes labor costs, change orders,delivery charges, and reasonable profit and overhead.

XL says risks that are excluded in many builders' risk policiesare addressed by BRICS protection, such as sinkhole collapse,testing, voluntary parting, and virus and harmful code.

“XL Group has built a strong reputation for providing Builder'sRisk and Installation coverage for the most complex of constructionprojects,” says Rich DeSimone, president of XL Group's NorthAmerica Marine group, in a statement. “Now, with our team ofseasoned marine underwriters and our new BRICS policy, we'repleased to extend that protection to meet the risk management needsfor any entity with a project in the course of construction.”

The coverage is available for general contractors, owners,developers, and specialty-trade contractors. Throughendorsements, BRICS can be tailored to meet a wide array of needs,including:

• Green Coverage
• Contingent and Difference in Conditions
• Rigger's Liability
• Existing Buildings or Structures
• Soft Costs, Business Income and Extra Expense
• Permission to Occupy
• Equipment Breakdown
• Flood, Earthquake and Volcanic Eruption

BRICS “protects property at more locations, from more losssituations and with more protection.” explains AlexanderMcGinley, vice president of Inland Marine. “Projects we insure canrange from new construction, renovation, rehabilitation,alteration, or additions to installation, repairs, improvements,erection, rigging, or millright.”

The coverage also includes protection from variable costs thatare often overlooked in other policies such as increase inconstruction costs, site preparation, extra and expediting expense,contract penalty, rewards, reimbursement for returning stolenproperty, loss adjustment expense, ordinance or law, firedepartment service charges or expenses related to debris removal,pollution cleanup, among others, XL says.