Understanding Premises Operations and Products-Completed Operations

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As a working Trade Contractor, your company is typically required to have General Liability (GL) coverage before entering a project site. Within your GL policy, you have coverage for Premises Operations and Products-Completed Operations as a Named Insured. Since both Premises and Completed operations coverages are included in your typical General Liability policy, there will likely be contractual requirements that ask you to provide Additional Insured endorsements showing coverage for the Owner, General Contractor and/or Trade Contractor.

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Topics: Additional Insured, Completed Operations Coverage

Why Do Contractors Have to Provide Additional Insured Endorsements?

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A common requirement you’ll find in a construction contract is for any hired contractor to provide additional insured status to parties within the contract. The purpose of this requirement is to protect an Owner, General Contractor and/or another Trade Contractor from potential claims that may arise from work the hired contractor is performing. By having the Owner and General Contractor listed as additional insureds on the hired contractor’s policy, this transfers the potential risk for work done back to the hired contractor.

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Topics: Contracts, Additional Insured

Differences Between Named Insured and Additional Insured: Part 2

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When working on a construction project, the company you are working for may ask to be an Additional Named Insured or an Additional Insured. It’s easy to believe that they are the same thing, but in reality, there are some significant differences between the two.

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Topics: Contracts, Additional Insured

Differences Between Named Insured and Additional Insured: Part 1

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Often, the terms named insured and additional insured get lumped together to be interchangeable. However, that is not the case. Keep reading to learn about each one!

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Topics: Contracts, Additional Insured

Are All Your Risks Covered? What to Consider as a Contractor

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These days, it would be difficult, if not impossible, to find a business that is not exposed to a certain level of risk in its day-to-day operations. However, no business is more exposed to risk than that of a contractor.

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Topics: Contracts, Additional Insured