CCDC 21 - Part 2

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Which property is excluded from coverage under the Builders' Risk Broad Form property insurance policy?

Contractor's tools and equipment

Property in transit or off-site

Marine construction projects such as bridges or wharves (correct)

Permanent construction and temporary works necessary for construction

What type of insurance should be obtained for contractor's tools and equipment?

Other forms of insurance

Owner's Builders' Risk Broad Form property insurance

Contractor's Equipment Floater Policy (correct)

Builders' Risk Broad Form property insurance

When does coverage for projects left unattended or with ceased construction activity cease?

After 60 consecutive days

After 30 consecutive days (correct)

After 120 consecutive days

After 90 consecutive days

What type of coverage should be added to the Owner's Builders' Risk Broad Form property insurance policy for remediation of faulty material, workmanship, or design?

IBC 4047 coverage Signup and view all the answers

Which of the following is true about early occupancy in a warehouse or manufacturing plant?

Early occupancy is allowed but requires policy amendments Signup and view all the answers

What is the typical coverage period provided for mechanical or electrical breakdown of equipment during testing or commissioning?

21 to 30 days Signup and view all the answers

Which of the following is excluded from coverage unless it is refurbished with the manufacturer's warranty still in force?

Used equipment Signup and view all the answers

What additional risks are associated with renovation and addition projects?

All of the above Signup and view all the answers

Which of the following is NOT a peril covered by the standard Builders' Risk Broad Form property policy?

Wear and tear Signup and view all the answers

What should be the minimum required limit for the CCDC 2 Builders' Risk Broad Form property policy?

Contract Price + full value of Products and design services + fees charged by architects and engineers Signup and view all the answers

Which of the following can be covered by the Business Interruption extension of the Builders' Risk Broad Form property policy?

Soft costs incurred due to property damage Signup and view all the answers

What can Extra Expense Insurance or Expediting Expense Insurance assist with?

Funding and completing the project expeditiously Signup and view all the answers

Which insurance coverage is required under the insurance provisions of CCDC contract forms?

A separate policy or an endorsement to either the Boiler and Machinery policy or the Builders’ Risk Broad Form property policy to provide coverage during testing Signup and view all the answers

What does Boiler and Machinery Insurance (now more commonly referred to as 'Equipment Breakdown Insurance') cover?

Mechanical or electrical breakdown of certain 'objects' Signup and view all the answers

Which types of equipment are covered under the comprehensive form of Boiler and Machinery Insurance?

All of the above Signup and view all the answers

In what ways can the insurance industry offer coverage for Boiler and Machinery Insurance?

All of the above Signup and view all the answers

What is the more commonly used term for 'Boiler and Machinery Insurance'?

Equipment Breakdown Insurance Signup and view all the answers

Which type of coverage typically excludes damage caused by viruses and the liability for spreading viruses to computer networks of others?

Cyber coverage Signup and view all the answers

What is the best practice to ensure coverage is available for 'data' and 'data problem' both at the jobsite and away from the jobsite?

Extend the coverage for 'Valuable Papers and Records' to cover 'data' and 'data problem' Signup and view all the answers

What is the potential consequence of not adhering to the best practice of keeping frequent back-ups of critical 'data'?

Losing all work done by all parties since the last successful and retrievable back-up Signup and view all the answers

What is commonly referred to as 'third-party cyber coverages'?

Liability for theft of, loss of, or corruption to somebody else's 'data' Signup and view all the answers

Which of the following is NOT a material change that should be brought to the attention of the insurance representative?

Partial or total occupancy of the project prior to completion for purposes other than habitational, office, retail, or parking. Signup and view all the answers

What is the purpose of deductibles in insurance policies?

To avoid the administrative cost of handling minor losses. Signup and view all the answers

What is the maximum deductible specified in CCDC 41?

$5,000 Signup and view all the answers

What is the purpose of the "Valuable Papers and Records" coverage?

To indemnify for the reproduction costs of blueprints and shop drawings. Signup and view all the answers

CCDC 21 - Part 2

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Questions and Answers

Which property is excluded from coverage under the Builders' Risk Broad Form property insurance policy?

What type of insurance should be obtained for contractor's tools and equipment?

When does coverage for projects left unattended or with ceased construction activity cease?

What type of coverage should be added to the Owner's Builders' Risk Broad Form property insurance policy for remediation of faulty material, workmanship, or design?

Which of the following is true about early occupancy in a warehouse or manufacturing plant?

What is the typical coverage period provided for mechanical or electrical breakdown of equipment during testing or commissioning?

Which of the following is excluded from coverage unless it is refurbished with the manufacturer's warranty still in force?

What additional risks are associated with renovation and addition projects?

Which of the following is NOT a peril covered by the standard Builders' Risk Broad Form property policy?

What should be the minimum required limit for the CCDC 2 Builders' Risk Broad Form property policy?

Which of the following can be covered by the Business Interruption extension of the Builders' Risk Broad Form property policy?

What can Extra Expense Insurance or Expediting Expense Insurance assist with?

Which insurance coverage is required under the insurance provisions of CCDC contract forms?

What does Boiler and Machinery Insurance (now more commonly referred to as 'Equipment Breakdown Insurance') cover?

Which types of equipment are covered under the comprehensive form of Boiler and Machinery Insurance?

In what ways can the insurance industry offer coverage for Boiler and Machinery Insurance?

What is the more commonly used term for 'Boiler and Machinery Insurance'?

Which type of coverage typically excludes damage caused by viruses and the liability for spreading viruses to computer networks of others?

What is the best practice to ensure coverage is available for 'data' and 'data problem' both at the jobsite and away from the jobsite?

What is the potential consequence of not adhering to the best practice of keeping frequent back-ups of critical 'data'?

What is commonly referred to as 'third-party cyber coverages'?

Which of the following is NOT a material change that should be brought to the attention of the insurance representative?

What is the purpose of deductibles in insurance policies?

What is the maximum deductible specified in CCDC 41?

What is the purpose of the "Valuable Papers and Records" coverage?

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