ACE USA, the U.S.-based retail operations of the ACE Group, has developed a coverage form to address the evolving risks and rising costs of various types of construction projects. The ACE Construction Risk Coverage Form is designed for general contractors, developers and owners with ongoing construction needs.
ACE says the form also can be tailored to meet project-specific requirements, addressing customers’ potential financial losses stemming from four-wall building projects as well as engineering-related civil construction, such as bridges, tunnels, pipelines, water treatment facilities and dams.
Adhering to an established budget while maintaining a tight construction timetable is a key concern for clients, according to ACE, which is why its trying to provide access to funds to get projects back on track on an accelerated basis. Clients can benefit from a combined extra and expediting expense option offered by the ACE Construction Risk Coverage Form, which reimburses additional costs associated with recovering from a covered physical damage loss to a project as quickly as possible in an effort to minimize the client’s economic loss from the event.
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