Historically, the insurance program for development projects has been controlled by the general contractor. In this traditional program, contractors would secure insurance and offer the owner/developer the opportunity to buy into their insurance policies. For example, the general contractor would purchase builder’s risk or workers’ compensation policies for the project and then charge the owner a fee for being added to the general contractor’s policy. This offering seemed beneficial to owners who may have considered the underwriting process necessary to procure insurance coverage an unnecessary headache when compared with all of the other important aspects of the development project.

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