IM 7053 Builders' Risk Coverage - Builders' Risk And Installation Floater Form

An American Association of Insurance Services (AAIS) standard form. Inland marine coverage form that insures buildings and structures under construction, and materials, fixtures and equipment being installed, against direct physical loss from covered perils, with extensions such as debris removal, expediting expenses and ordinance or law coverage.

1. 07 20 edition

   Jul 2020, compared with 08 12Latest edition

   • Waterborne property coverage now excludes coastal waters of the United States and waters around the Hawaiian and Aleutian Islands.

     08 12

     Not in this edition

     07 20

     “waters between and around the Hawaiian Islands”

   • Expediting expenses are paid only if the project was on track to finish on time before the covered delay.

     08 12

     Not in this edition

     07 20

     “are otherwise on track to be completed”

   • Builders' risk limits now apply to loss at any one building, structure or permanent fixture.

     08 12

     Not in this edition

     07 20

     “permanent part of any one building or any one structure”

   • Separate or combined catastrophe limits can now apply across builders' risk and delay in completion coverage.

     08 12

     Not in this edition

     07 20

     “Separate Catastrophe Limits”

2. 08 12 edition

   Aug 2012, compared with 12 01

   • The contract penalty supplemental coverage is removed.

     12 01

     “Contract Penalty -- "We" pay for the cost of contractual penalties”

     08 12

     Removed

   • Limited fungus coverage is added.

     12 01

     Not in this edition

     08 12

     “Limited Fungus Coverage”

   • A new exclusion removes coverage for any loss of value that remains after a covered loss is repaired.

     12 01

     Not in this edition

     08 12

     “any loss of value or any diminution in value”

   • Paved surfaces more than 1,000 feet from a covered building or structure are not covered under the builders' risk coverages.

     12 01

     Not in this edition

     08 12

     “paved surfaces that is more than 1,000 feet from”

1 other edition date appears in one or two filings each, often carrier-specific versions: 10 08.

Where filings record what this form replaced, they name earlier edition 08 12. Only some filings record replacements.

• Edition in use: in the past 12 months, 1 company filed the 07 20 edition.
• IM 70 50 (Builders' Risk Coverage - Scheduled Jobsite Form - Comprehensive Form) is filed alongside it most often, in 60 of the same filings (97%).

Data from admitted P&C filings with state insurance departments, submitted Oct 2021 to Mar 2026, excluding withdrawn and rejected filings. One filing can cover several affiliated companies.

• IM 70 50Builders' Risk Coverage - Scheduled Jobsite Form - Comprehensive Form60 filings
• IM 70 61Delay In Completion Coverage Part60 filings
• IM 70 62Delay In Completion Schedule60 filings
• IM 70 51Builders' Risk Coverage - Scheduled Jobsite Form59 filings
• IM 70 55Schedule of Coverages - Builders' Risk - Comprehensive Form59 filings
• IM 70 56Schedule Of Coverages - Builders' Risk59 filings
• IM 70 58Schedule Of Coverages - Builders' Risk And Installation Floater59 filings
• IM 70 52Builders' Risk Coverage - Contractors' Reporting Form55 filings
• IM 70 57Schedule Of Coverages - Builders' Risk - Contractors' Reporting Form54 filings
• IM 70 03Contractors' Equipment Coverage - Small Tools Floater51 filings