In our last podcast, thieves cut into a job site and stole a variety of tools, equipment, and materials. The general contractor had hired a subcontractor to install the plumbing system. Copper piping to be installed at the job site and owned by the sub were also stolen.
Notable Timestamps
[ 00:45 ] - Last week's scenario is expanded to discuss the impact on subcontractors.
[ 01:50 ] - The PLRB crew discusses inside jobs, boats, and gap coverage.
[ 02:50 ] - Subcontractors more often prefer Installation Floaters as opposed to Builders Risk.
[ 04:00 ] - The Installation Floater form generally covers materials, fixtures, and equipment that will become a permanent part of the completed project.
[ 05:30 ] - The coverage typically ends once the items are installed. So, these copper pipes would be covered under an installation floater.
[ 08:00 ] - Despite the name "floater," waterborne equipment is specifically excluded. Unless Mike opens up a seafood restaurant with some unusual decor...
[ 09:13 ] - The Contractors Equipment form covers mobile machinery used by a contractor or subcontractor as part of their construction work.
[ 10:50 ] - The Motor Truck Cargo form provides coverage for the cargo or goods being transported by a trucking or freight transportation company: the risks associated with transportation.
[ 12:32 ] - The trucking company might be liable for the panels because they were on their truck, but they might be covered under their Motor Truck Cargo coverage, depending on its delivery status.
[ 13:30 ] - Jeff provides a recap of the scenario and the points above.
[ 16:20 ] - A very special (and hopefully temporary) farewell to PLRB's longtime podcast host, Alissha Watley!
Your PLRB Resources
Inland Marine – Prop. Q&A 187 - https://www.plrb.org/documents/inland-marine-prop-qa-187/
Discussion of the definition of equipment and machinery - PLRB, Commercial Property Forms Annot. Key CP941 - https://www.plrb.org/legacy-documents?DN=46384
Installation Floater Coverage - https://www.plrb.org/documents/installation-floater-coverage/
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Legal Information
The views and opinions expressed in this resource are those of the individual speaker and not necessarily those of the Property & Liability Resource Bureau (PLRB), its membership, or any organization with which the presenter is employed or affiliated. The information, ideas, and opinions are presented as information only and not as legal advice or offers of representation. Individual policy language and state laws vary, and listeners should rely on guidance from their companies and counsel as appropriate.
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