Six re-insurers will pay out most of an additional $35 million under a claim by the Southern Nevada Water Authority on a builders’ risk policy covering damage suffered in 2010 and 2011 to a water tunnel project where flooding and fractured rock caused major delays, the water authority announced.
“We don't typically purchase insurance policies for construction projects,” says Erika P. Moonin, the water authority’s engineering project manager for its $817-million third intake project at Lake Mead. “But this was an underground job, so we handled it differently.”