Law360, New York (March 28, 2016, 11:04 AM EDT) -- The limited recourse or nonrecourse nature of project finance transactions magnifies the importance of insurance in the lenders security package. In particular, "delay-in-completion" (DIC) or "delay-in-startup" (DSU) coverage under a construction/contractor's all-risk (CAR) or other builders risk policy is critical to securing the lenders interest in continued debt service in the event of a casualty-related delay. Sophisticated lenders will ensure that appropriate insurance and contractual requirements are in place to protect revenues and minimize uninsured expenses and will be attuned to basic insurance issues, including securing "additional insured" status and waivers of subrogation for the lending parties. While there are dozens of insurance considerations to be addressed in any given transaction, here are five practical tips that project finance lenders should consider in due diligence to optimize insurance recovery....