What does Efficacy Insurance mean? Read on to discover the definition & meaning of the term Efficacy Insurance - to help you better understand the language used in insurance policies.
Provides coverage in the event that a project does not meet the technical level of performance required by the contract. The policy provides the funds required to pay the debt service costs and may be modified to reimburse the insured for capital expended so that the project may be brought up to the expected performance level. This type of coverage is often sought for high-tech projects such as cogeneration facilities.
We hope the you have a better understanding of the meaning of Efficacy Insurance.