Location Builder's Risk fields

Validation rules for fields related to builder's risk for a location (U.S. models only).

Verisk Synergy Studio's individual risk methodology follows a structured, logical approach that groups building characteristics (SRCs) that are supported in a specific model. Refer to the "Secondary Risk Characteristics Matrix"—https://risksolutions.verisk.com/models/landing-pages/secondary-risk-characteristics/—which is available on the landing page on the Client Portal (login required)—that serves as a guide to the SRCs supported by each model. The landing page includes peril-specific SRC documentation. Users may also refer to a model's detailed description (available on the Client Portal).

For information about modeling builder's risk, see the Using Builder's Risk in Verisk Synergy Studio,which is available on the Client Portal.

Field Supported country / peril Description Validation rules Default value
Project Completion
  • HI EQ
  • HI TC
  • US EQ
  • US IF
  • US TC
Percentage of the project that is already completed at policy inception, in terms of time. Input this value only when analyzing the Average Project Loss over the duration of the entire project:
  • Project not yet started / Default (0)
  • <N> - Enter 5 when specifying a value for this field
  • Optional
  • Can be a numeric value between 0 and .99 (0-99%), inclusive
  • Application ignores the field if you input 0 or any other value than 5.
0
Project Phase Code
  • HI EQ
  • HI TC
  • US EQ
  • US IF
  • US TC
Project phase, which indicates the phase of construction that is currently underway:
  • No Builder's Risk (0) Default
  • Phase 1 (1) Foundation and substructure
  • Phase 2 (2) Framing and superstructure
  • Phase 3 (3) Walls and roofing
  • Phase 4 (4) Interior, mechanical (conveying, plumbing, HVAC, fire protection), electrical, furnishings
  • Average Project Loss (5) Average project loss over the duration of the project
  • Worst Loss (6) Point in time when the loss potential is the highest
  • Optional
  • Application ignores the Project Completion field if you input 0.
No Builder's Risk (0)