Bryce hired a contractor to fix a leak in the roof of the musical inst

QUESTION

Bryce hired a contractor to fix a leak in the roof of the musical instrument factory where he worked as facilities manager.

The contractor came and removed the rotted wood from the roof, covered the hole with a tarp, and promised to be back the next day. The contractor did not show up for four days, during which there was a rainstorm that destroyed instruments, shelving, equipment, the ceiling, and flooring inside the factory. Bryce’s company was forced to absorb the loss. If the company had carried nonperformance loss protection, the damage would have been covered.
Indicate whether the statement is true or false.

ANSWER

Answer: TRUE
Explanation: Nonperformance loss protection insures against negligence by contractors.