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 Posted: Wed Feb 11, 2009 8:26 pm Post subject: What is Product - Comp/Op |
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What is Product - Comp/Op Agg?
What is E.L.?
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| Posted: Wed Feb 11, 2009 11:48 pm Post subject: |
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Might be Products/Completed Operations and then the General Aggregate limit.
Products/Completed Operations coverage is coverage for just that... liability coverage for the insured's products or operations that have been completed.
General Aggregate limit is the limit of coverage for all claims during the policy period. If a policy has a $1,000,000 limit with a $2,000,000 aggregate limit then the most a carrier will pay per claim is $1,000,000 and the most that they will pay on all claims during that policy period is $2,000,000. |
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tcope
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| Posted: Thu Feb 12, 2009 5:57 pm Post subject: |
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E.L. stands for employer's liability.When any employee falls sick or get injured at the employer's premises then employer must pay for the entire medication as well as the compensation for the entire period while employee is getting treated. 
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amit
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| Posted: Thu Feb 12, 2009 8:18 pm Post subject: |
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More so E.L is for things like defamation, wrongful termination, etc. rather then injuries. As Workers Compensation (if the employer has it) is usually the sole remedy for injuries on the job site.
Last EL claim I had was that a hotel desk clerk got a gun out of, what should have been, a secure location and waived it at a bus driver as he had told the driver not to pull up to the front door and park. It did not help that the people on the bus were headed for the special Olympics. |
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tcope
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| Posted: Fri Feb 19, 2010 6:07 pm Post subject: Products/Completed Operations |
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What is Products/Completed Operations Aggregate Limit? I own a building with 8 apartments and 2 stores. Do I need it when purchasing for my property insurance. My agent told me that it's not applicable to property owner so it's "N/A" on my policy. She said it only applies to business owner. Is that true? My main concern is when I do renovation in the building and if someone (worker or by stander) got hurt from it, which coverage applies to that? Is it the CGL or it should be Products/Completed Operations? when would Products/Completed Operations actually applies in my situation or it does not at all?
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anonymous2
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