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Authority approves owner‑placed builders risk insurance and $18.9M CEI amendment for PR3
Summary
The board approved an owner‑placed builders risk insurance program estimated to save about 45% versus contractor programs and authorized a CEI services amendment with HDR for $18,906,529.35 to fund full‑time construction inspection and related owner costs for Reservoir 3.
The Peace River Manasota Regional Water Supply Authority on Dec. 3 approved an owner‑placed master builders risk insurance program for the Surface Water System Expansion Project and authorized an amendment with HDR for construction engineering and inspection (CEI) services totaling $18,906,529.35.
Michelle Martin, senior vice president at Brown & Brown Insurance, described the master builders risk program design and estimated…
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