Insurance Completed Operations Endorsement
Downstream contracts should specify that additional insured coverage must be provided on an iso 20 10.
Insurance completed operations endorsement. The cgl does not cover every claim or suit involving your product or completed work. In 1993 insurance services office inc. So if completed operations coverage is required for the additional insured the cg 20 37 additional insured owners lessees or contractors completed operations is often needed. 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.
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. Completed operations coverage in an insured s own policy and in additional insured endorsements is an essential protection against construction defect claims. Products and completed operations coverage is most often automatically included on your commercial general liability policy. 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.
Understanding how these clauses affect. New ai endorsements automatic status for completed operations the insurance services office inc. The claim must allege bodily injury or property damage. The endorsement extends the completed operations coverage for up to 10 years beyond the policy term.
For a claim to be covered all of the following criteria must be satisfied. 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. One type of additional insured endorsement expressly excludes coverage for completed operations. If not additional insured coverage under the named insured s commercial general liability cgl policy can be in doubt.
Another includes language purporting to limit the scope of coverage provided to the ongoing operations of the named insured. Claims arising out of your products or completed operations are covered unless they are specifically excluded by an endorsement. Extended completed operations coverage is an endorsement contractors add to a project specific general liability policy. 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.
Further owners and contractors should ensure that additional insured coverage obtained from others includes completed operations coverage. This way a claim is covered even if it occurs after the policy has expired because the extended completed operations coverage is in effect. Construction products and the manufacturing of. The insurance services office iso additional insured endorsements generally exclude products completed operations coverage.
It is critical that each insured be aware of what coverage is available under its own policy.
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