Jim lives in St. Petersburg, FL and wants to build a large a…
Jim lives in St. Petersburg, FL and wants to build a large addition and new deck on his home. Jim hires Confident Contractors to complete the construction of the addition and outdoor deck. Jim lives in a pretty bustling area of St. Petersburg, and he is worried about the possibility of a pedestrian on the sidewalk or a motorist on the busy road in front of his house being injured a result of the construction process at his house. Before Confident Contractors begin any work, Jim wants to ensure that if any property damage or bodily injuries occur as a result of the construction process; that he will not bear the financial responsibility for those losses. Which risk financing mechanism would be a good solution for Jim to alleviate his concerns regarding the construction on his new home?