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April 2013 Archives

Construction Insurance

Owner-Developers who have a tower crane on their project site will have the obligation of procuring Eighty Million ($80M) Dollars in project specific general liability (GL) insurance, regardless of the project's scope of work. The regulation is silent on whether such GL insurance must be obtained wholly by the crane contractor, construction manager or owner or can be achieved by combining or aggregating these entities coverages. Until the DOB offers further guidance, we are advising Owners that they ultimately are responsible for showing the DOB that the project is in compliance with the new GL insurance obligations, and that it may be met by aggregating project specific coverages.

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