Insurance Terms Ongoing Operations
Products and completed operations is the other coverage in part a of the cgl not discussed in this article.
Insurance terms ongoing operations. Ongoing operations work or other business activity that has not been completed or abandoned. When things go wrong all insurance endorsements must be right. Ongoing operations work or other business activity that has not been completed or abandoned. Declaration part of a property or liability insurance policy that states the name and address of policyholder property insured its location and description the policy period premiums and supplemental information.
Policy documents contain a number of insurance terms because they typically define the limitations of risk and liability on the insured and any exclusions of coverage. Premises and operations coverage insures a policyholder. 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 differences in. Deductible the amount of loss paid by the policyholder.
But the court rejected this. Of the west 92 cal. Specifically this is a bodily injury bi and property damage pd coverage in part a of the cgl. Standard additional insured status under a general liability policy applies only with respect to liability in connection with the named insured s ongoing operations preventing coverage from extending to the additional insured s liability for the.
And a court must refrain from altering or changing a policy where terms are unambiguous citation omitted. 2000 the court explained that the revision of the endorsement to specifically include ongoing operations effectively precludes application of the endorsement s coverage to completed operations losses. T o accept noble s argument we would have to read the word ongoing out of the endorsement and find that noble is covered for liability caused by harris s operations active or completed. Completed operations insurance explained.
Our insurance terms glossary is divided alphabetically by insurance terms in a quick reference guide to assist understanding the language commonly used by insurance companies. Premises and operations coverage is part of the commercial general liability cgl policy related to commercial insurance. Referred to as the ìdec page î. Buying completed operations insurance transfers the risks associated with a contractor s or manufacturer s finished product to a third party even though.
Either a specified dollar amount a percentage of the claim amount or a specified.
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