What Does All Risks Difference In Conditions Mean?

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What does All Risks Difference In Conditions mean? Read on to discover the definition & meaning of the term All Risks Difference In Conditions - to help you better understand the language used in insurance policies.

All Risks Difference In Conditions

All Risks Difference In Conditions

A policy maintained by a general contractor (or subcontractor) to fill coverage gaps created by a project owner's (or general contractor's) maintenance of its own builders risk program. Often the owner (or general contractor) will purchase builders risk insurance on a particular project that is not as broad as the coverage that the general contractor (or subcontractor) ordinarily purchases, or that has a much higher deductible than the general contractor (or subcontractor) ordinarily purchases. In such cases, the general contractor (or subcontractor) can purchase a builders risk difference-in-conditions (DIC) policy that covers any loss excluded or under the deductible of the owner's or general contractor's program subject to the exclusions and deductible in the DIC policy.

We hope the you have a better understanding of the meaning of All Risks Difference In Conditions.

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