Chartis Insurance Company of Canada, a Chartis company, has launched Heritage Resources, a product offering that provides first party coverage for expenses and construction completion delay resulting from the unexpected discovery of heritage resources at a construction site.
The Heritage Resources coverage is available as an endorsement to it’s project specific Builder’s Risk policy forms.
Chartis said in the event of an unexpected discovery of heritage resources, the endorsement will provide coverage for heritage expenses the insured is obliged to incur for protective measures, technical consulting and project monitoring, as well as expenses incurred for cleaning, cataloguing, preserving and storing archaeological or paleontological objects.
Also Heritage Resources covers the costs of delay of construction – including loss of rental income or gross earnings – in the event of a discovery of historically significant artefacts.