Atlantic Mutual Expands Builder, Contractor Policies.Responding to agents and insureds, the marine insurance division of Atlantic Mutual Cos. is broadening its coverage in the builder's risk and contractor equipment policies.
The new policy eliminates the need for many of the endorsements that typically are associated with builders and contractors' equipment policies.
Atlantic Mutual broadened the definition of covered property for contractor's equipment to include rented, leased or borrowed equipment.
The Madison Madison, cities, United States
1 City (1990 pop. 12,006), seat of Jefferson co., SE Ind., on the Ohio River; settled c.1806, inc. 1838. It is a port of entry and a tobacco marketing center. , N.J.-based insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual.
An insurer is frequently an insurance company and is also known as an underwriter. also expanded its builder's risk covered property to include temporary buildings or structures, scaffolding, construction forms, fences and office trailers; temporary enclosure enclosure (inclosure) n. land bounded by a fence, wall, hedge, ditch or other physical evidence of boundary. Unfortunately, too often these creations are not included among the actual legally-described boundaries and cause legal problems.
ENCLOSURE. materials; trees, shrubs, sod and plants.
New coverages protect against contract penalties, escalation es·ca·late
v. es·ca·lat·ed, es·ca·lat·ing, es·ca·lates
To increase, enlarge, or intensify: escalated the hostilities in the Persian Gulf.
v.intr. costs and costs associated with ordinances and laws. Soft-costs coverage--which includes legal and accounting fees and loan and interest costs--is built in. Atlantic Mutual also covers advertising and promotional expenses Noun 1. promotional expense - the cost of promoting a product
business expense, trade expense - ordinary and necessary expenses incurred in a taxpayer's business or trade if a building is behind schedule for a grand opening, for example.