What completed operations liability?
Completed operations insurance covers a contractor’s liability for property damage or injuries to a third party once contracted operations cease.
General liability insurance most often includes completed operations insurance..
Is products completed operations the same as product liability?
Product liability insurance is covered under a general liability policy in conjunction with liability work that has been completed. This kind of coverage, which is included in bodily injury and property damage liability, is a combined piece of protection known as products-completed operations ability.
What does products completed operations aggregate mean?
The products-completed operations aggregate is the total coverage in your general liability insurance or business owner’s policy that protects you from financial damages if your product or completed service injures people or property.
How Long Does completed operations coverage last?
Extended Completed Operations Coverage One of the regional school system’s insurance requirements as the school’s owner is that the general contractor must purchase completed operations coverage for a period of 10 years beginning after the project is completed.
What is a discontinued operations policy?
A discontinued operations policy provides products/completed operations liability coverage after a business is closed. It also can provide specific coverages for just one portion of a business that has closed.
What is ongoing operations endorsement?
Standard CGL policies apply only to a named insured’s “ongoing operations,” which provides coverage to themselves and their additional insureds for property damage and injury as work is actively underway on a project. Completed operations extends coverage beyond a contract or project’s conclusion.