The Real Deal recently sat down with NSI CEO and Chairman Oscar Seikaly to discuss the importance of preparing for hurricane season before the first storm is named.
In this article, Oscar emphasizes the importance of two essential policies that go hand-in-hand: “builder’s risk, and either an owner-controlled insurance program (OCIP) or a contractor-controlled insurance program (CCIP). Builder’s risk covers the building itself, as well as materials and equipment, while OCIP and CCIP plans cover liability”. He also notes that insurance providers closely review construction timelines, preferring projects to be enclosed by hurricane season to avoid complications.
Read the full article here.
