CA SB1077

Applies new wrap-up insurance disclosure requirements to public works and non-residential construction projects entered into or amended on or after January 1, 2019

Requires owners, builders, or general contractors obtaining wrap-up insurance to disclose policy limits, coverage scope, deductibles, policy term, and good faith estimates of available coverage limits in bid documents

Mandates demonstration that policy limits are sufficient on a replacement cost basis to cover total project replacement costs based on initial contract sum, including ongoing and completed operations coverage

Requires disclosure of total premium credits or compensation amounts required from subcontractors prior to bid submission, with subcontractors retaining right to increase bids if actual credits differ materially from original estimates

Declares any waiver of these disclosure and insurance requirements void as contrary to public policy