Construction is a risky, high-stakes business. Construction disputes often result from misunderstandings over insurance coverage. Contractors’ commercial insurance policies are drafted with a short, broad statement of coverage that is then limited by a lengthy series of definitions, exclusions, exceptions to exclusions and supplemental endorsements. As a consequence, most insurance policies are extremely difficult to read and understand.
Additionally, contracts are usually drafted to shift risk down to lower tiered parties as a part of many risk management strategies. Spire recognizes this trend and provides analysis and recommendations to attorneys, owners, and contractors on how risk can be mitigated. Spire is equipped to provide ongoing support in assessing a client’s contract with regards to its performance requirements.