Ads
related to: contractors general liability insurance coverage meaning in business name
Search results
Results from the WOW.Com Content Network
Whether or not general liability insurance covers construction defects or "faulty workmanship" is a matter of some debate, as some insurers have viewed poor workmanship as a risk that is covered by a surety bond rather than an insurance policy given that a construction professional may have some influence (through attention to detail, skill, and effort) over whether such a defect occurs.
This provider offers general liability insurance, professional liability (E&O) insurance, business owners’ policies, cybersecurity insurance, workers’ compensation, and other specialized ...
Similarly, general contractors often require subcontractors to name the general and the owner on the subcontractor's policies. [6] In this way, if the general contractor or owner are sued due to accidents arising out of the work of the subcontractor, the subcontractor's insurance will protect the general contractor and owner. [7]
An owner controlled insurance program (OCIP) is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project (subject to the usual exclusions).
Type of business insurance. Description. General liability insurance. Pays legal fees and settlements (up to your policy limits) if you get sued for a covered general cause. Product liability ...
For example, if a client is injured on your business premises, general liability coverage would help cover your legal bills, the medical bills of the affected person and any damages resulting from ...
Coverage can be purchased by the property owner or general contractor. [6] Builder's risk coverage may be necessary to show proof of insurance to comply with local city, county, and state building codes and is often required as a condition to many contracts.
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
Ads
related to: contractors general liability insurance coverage meaning in business name