Navigators Introduces Building Wrapup Policy

Navigators California Insurance Services introduced Monday its ReWrap liability policy for construction wrap-up projects in California, Arizona and Nevada. ReWrap provides coverage on an excess basis over the primary construction wrap-up policy. However, in the event that the insurer on the primary policy is insolvent, the ReWrap policy contains a drop-down provision and responds as primary insurance. "Construction wrap-up policies have become the preferred method for insuring residential construction projects in California, Arizona and Nevada. However, because of the extended statute of li...