Too many construction contractors and engineers don’t fully understand their insurance coverage, and, in particular, what they are covered for and what they are not, notes James Blasting, senior consultant with Arcadis, the water and environmental engineering company.
And one of the biggest misunderstandings among contractors and others looking to be certaom they are insured against construction or design problems is the difference between claims-based coverage and its more all-encompassing alternative, occurrence-based coverage.