Posted: Wed Jun 06, 2007 5:15 pm Post subject: Completed Operations end for Addl. Insured
I am the Risk Manager for a Busy General Contractor in Colorado. Can you tell me if it is easy for a construction sub contractor to obtain an endorsement for addl. insured on completed operations per our contract requirements? I am hearing that yes it is readily available and reasonable in cost from 1 agent, and no its difficult to find this type of coverage from most of the other agents. _________________ Register Now to have your Insurance queries solved.
Yes, it should be fairly easy for a sub contractor to obtain an additional insured endorsement for completed operations on there commercial policy. This is usually on a per job basis. The premium for this could vary, depending what company your insured with and/or how big the job is.
I want to make sure I am understanding you. The job you are working on, the additional insured is requesting an completed operations endorsement from you, so you are also requiring your sub contractors to have it...correct?
It is available in NJ for a premium & must be endorsed onto a policy as the blanket additional insured endorsements usually only appy to ongoing operations. Also, make sure his coverage and endorsement renew for a few years because the completed operations hazard will still exist, even though the contractor may be out of business - in which case he would need discontinued operations coverage. _________________ Register Now to have your Insurance queries solved.
In NH it is a simple process to add Additional Insureds on to your policy. Depending on the type of policy you have, it is either a $30 charge, or there is no cost at all.
