Insurance Completed Operations Endorsement
In 1993 insurance services office inc.
Insurance completed operations endorsement. Iso recently released 92 new and 42 revised endorsements for use with commercial general liability cgl iso coverage forms which became effective december 1 2019 in most jurisdictions across the country. Products and completed operations insurance is an important means of ensuring that a third party can assume the financial liability related risks tied to a contractor s completed work. This way a claim is covered even if it occurs after the policy has expired because the extended completed operations coverage is in effect. One major pitfall of additional insured endorsements comes from language regarding operations as ongoing or completed these two little words make a big difference in how and when subcontractor insurance policies can extend coverage to additional insureds.
The claim must allege bodily injury or property damage. Construction products and the manufacturing of. Products and completed operations coverage is most often automatically included on your commercial general liability policy. The cgl does not cover every claim or suit involving your product or completed work.
It is critical that each insured be aware of what coverage is available under its own policy. Extended completed operations coverage is an endorsement contractors add to a project specific general liability policy. Courts addressing these endorsements often direct their analysis at interpreting the phrase arising out of and whether these endorsements provide coverage for the additional insured s own negligence. Claims arising out of your products or completed operations are covered unless they are specifically excluded by an endorsement.
Coverage under the revised endorsements applies only to liability arising out of the named insured contractor s or subcontractor s ongoing operations for the additional. For a claim to be covered all of the following criteria must be satisfied. Iso revised several of its standard additional insured endorsements including the endorsement most commonly used in connection with construction projects endorsement cg 20 10 specifically to rule out the additional insured s protection against completed operations claims. Further owners and contractors should ensure that additional insured coverage obtained from others includes completed operations coverage.
Completed operations insurance covers a contractor s liability for property damage or injuries to a third party once contracted operations cease. One type of additional insured endorsement expressly excludes coverage for completed operations. Completed operations coverage in an insured s own policy and in additional insured endorsements is an essential protection against construction defect claims. New ai endorsements automatic status for completed operations the insurance services office inc.
Understanding how these clauses affect. Downstream contracts should specify that additional insured coverage must be provided on an iso 20 10. Another includes language purporting to limit the scope of coverage provided to the ongoing operations of the named insured. If not additional insured coverage under the named insured s commercial general liability cgl policy can be in doubt.
The endorsement extends the completed operations coverage for up to 10 years beyond the policy term.
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