A developer requests using WRAP insurance coverage for a townhouse and condominium project. The Owner furnishes a single insurance program for all parties involved in the project for the duration of the project term. This will include workers compensation, general and excess liability, and builders risk coverages. This can include architects/engineers errors and omissions coverage and other optional coverages.
Since this is only for the duration of the project, how does this cover claims beyond the duration of the project? How is this better than our conventional professional liability coverage? Anyone have experience with the WRAP type of insurance?
------------------------------
Juris Laivins AIA
Owner
Juris Laivins Architect
Dallas TX
------------------------------