P&CNationalhard
Coverage under an ISO Builders Risk Coverage Form (CP 00 20) typically terminates on the EARLIEST of several triggers. Which of the following is NOT a standard Builders Risk termination trigger?
The first anniversary of the policy inception date, regardless of completion
BThe named insured's interest in the property ceases through any sale or transfer of ownership
CNinety days after construction is complete
DSixty days after the building is occupied in whole or in part
Why this is the answer
The ISO Builders Risk Coverage Form (CP 00 20) terminates coverage on the EARLIEST of: (1) policy expiration, (2) abandonment with no intent to complete, (3) 90 days after construction is complete, (4) 60 days after a building is occupied in whole or in part or put to its intended use, (5) acceptance by purchaser, or (6) the named insured's interest in the property ceasing. A fixed 12-month anniversary is not an enumerated trigger (ISO CP 00 20 §F.4).
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