IM 7061 Delay In Completion Coverage Part

An American Association of Insurance Services (AAIS) standard form. Builders' risk coverage for additional construction expenses, soft costs and general administration expenses you incur when completion of covered buildings or structures is delayed by direct physical loss from a covered peril, subject to scheduled limits and any waiting period.

1. 07 20 edition

   Jul 2020, compared with 09 11Latest edition

   • Ordinance or law coverage no longer applies to delay from enforcing a law you were already required to comply with before the loss and did not.

     09 11

     Not in this edition

     07 20

     “"you" were required to comply with before the loss, even when the building was undamaged, and "you" failed to comply with”

   • The strikes exclusion now names protesters and demonstrators, applies whether or not you are the subject, and includes denial of access to covered property.

     09 11

     “Interference by strikers or other persons.”

     07 20

     “Interference by strikers, protesters, or demonstrators regardless if "you" are or are not the subject”

   • The waiting period now starts on the later of the contract completion date or the date the buildings could have been completed had there been no loss.

     09 11

     Not in this edition

     07 20

     “The waiting period begins on the later of the:”

2 other edition dates appear in one or two filings each, often carrier-specific versions: 04 04, 10 01.

Where filings record what this form replaced, they name earlier edition 09 11. 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 67 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Data from admitted P&C filings with state insurance departments, submitted Oct 2021 to Mar 2026, excluding withdrawn and rejected filings.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.

• Liberty Mutual GroupUses IM 7061 in 2 filings

• IM 70 50Builders' Risk Coverage - Scheduled Jobsite Form - Comprehensive Form67 filings
• IM 70 51Builders' Risk Coverage - Scheduled Jobsite Form66 filings
• IM 70 62Delay In Completion Schedule66 filings
• IM 70 55Schedule of Coverages - Builders' Risk - Comprehensive Form65 filings
• IM 70 56Schedule Of Coverages - Builders' Risk65 filings
• IM 70 53Builders' Risk Coverage - Builders' Risk And Installation Floater Form60 filings
• IM 70 58Schedule Of Coverages - Builders' Risk And Installation Floater60 filings
• IM 70 70Rehabilitation And Renovation Coverage Endorsement57 filings
• IM 70 84Mortgageholders Endorsement57 filings
• IM 70 63Permission To Occupy Endorsement56 filings