The lender on a large development project required the builders risk coverage to include the full insurable value of the project. Since the location was within an earthquake zone, the additional premium on excess coverage was substantial.
Through catastrophic modeling, CPG was able to determine that the probable maximum loss was substantially lower than the insurance limit requirements being enforced by the lender.
Working with the lender CPG was able to negotiate a builders risk earthquake sub-limit of $50,000,000. This coverage was not only suitable for the project, but provided premium savings of roughly $1,000,000.