Builder’s All Risk (BAR):
What is it? BAR coverage is first-party coverage which is essentially an all risk property policy, plus liability and protection and indemnity (P&I) extensions to it.
Who is to be included within the Named Assureds? The parties to be included within the Named Assured Clause include Builder, Sub-Contractors, Owners, Lenders if [...]
Insurance is a cover used for protecting a person from the financial losses. Financial losses can take many forms. There are risks to our investments, liabilities for our actions, and risks to our ability to earn income.
The insurer and the insured are the main two parties involved in insurance. The insurer is the insurance [...]
Most ordinary contracts are bona fide or good faith contracts. Insurance contracts, however, are contracts “uberrimae fidei,” or contracts of the utmost good faith. The greatest degree of good faith is needed in the negotiations preceding the issuance of the contract. This requirement has a long and interesting history.
In the earliest days of marine insurance [...]
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