Court ruling highlights importance of correct listing on builders risk insurance policies

Court ruling highlights importance of correct listing on builders risk insurance policies

A recent ruling by the Eighth Circuit Court of Appeals has highlighted the importance of how parties are listed on builders risk insurance policies, particularly for property owners involved in construction projects. In the case, a property owner attempted to claim lost rental income and soft costs due to a construction delay. However, because the owner was classified as an additional named insured rather than the named insured, the court determ…