Timberlake Construction Co., Plaintiff-Appellee/cross-Appellant v. U.S. Fidelity and Guaranty Co., Defendant-Appellant/cross-Appellee

OWEN, Senior District Judge.

Defendant-appellant U.S. Fidelity and Guaranty Company (“Fidelity”) appeals from an adverse jury verdict in an action commenced by its insured, plaintiff-appellee Tim-berlake Construction Company.

Timberlake contracted with Wal-Mart Stores to build a Wal-Mart supercenter in Claremore, Oklahoma. It purchased a $4,600,000 builders’ risk insurance policy from Fidelity to cover risks associated with construction of the building. The policy covered the period from July 12,1991 to August 15, 1992. It provided that coverage would terminate when the project was “accepted by…