As soon as the Franchisee company is formed, put liability coverage in force.

When vacant land is purchased, add to liability policy.

Prior to the start of construction, provide agent with a draft copy of the contract that you will be using with your sub-contractors. If hiring a general contractor, provide agent with a draft copy of the contract that you will be using with your general contractor. The insurance language within your contract should be approved by your agent prior to executing contracts.

As contracts with sub-contractors are executed, send the sub-contractors certificates of insurance to Agent (Thomas-Fenner-Woods)

As soon as any construction starts, builder’s risk policy must be put in place.

Send agent complete copy of all bylaws declarations of the condo association as soon as they are available.

Complete all the monthly builder’s risk reports, so Thomas-Fenner-Woods can continue with the risk management process. The builder’s risk form also requests when buildings are completed, sold and/or occupied, and when turned over to the HOA so that the proper coverage will always be maintained.

As soon as it becomes evident that permanent condominium insurance will be needed, advise Thomas-Fenner-Woods immediately. We will then start to work on the permanent coverage. However, this does involve some time, as various carriers require additional information including but not limited to applications, financials, pictures, etc.

Once condo association coverage is in place, other buildings in the association will be added as completed.

When project is complete (meaning all buildings are completed and endorsed onto the permanent condo association policy) discontinue builder’s risk reports. The liability coverage will remain in effect to protect you. However, it will be endorsed to remove the exposure basis used for construction, as they no longer exist.

You are now ready to start your next project and we will endorse your current liability policy to reflect that.

Note: This is just a brief synopsis of the steps involved and not intended to be a inclusive analysis of your insurance program.

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Other pages to consider:
Epcon Franchisee Access
Additional Coverages for Epcon Communities Franchisees to Consider
Vacant Land to Residential Community Insurance Program
Worker’s Compensation