Have a contractor client that this year mentions I need a General 1,000,000/2,000,000 w/Completed Operations with it. I have General with the dollar value, and a 1,000,000 Prof. Liability coverage for E&O--but no Completed Operations. They claim that the Completed Operations insurance is for after the project, for problems that might arise out of my work afterward..doing pretty much what my E&O is doing. My agent tells me that after talking with them, they aren't budging on the need for it. Am I just crazy, or is this wrong? They tell me a larger survey firm was able to get it, that they used to use a few years ago. Can someone explain?
Isn't it nice when a "client" can force you to purchase additional insurance to cover "their" butt.
A "Right of Entry" clause in 'your' contract stating the "Client, at its sole cost and expense, shall furnish the Surveyor...." may work in having the client bear the expense for their additinal required insurance.
I've not heard of this type insurance. I wonder if you let this type of insurance laps or expire, does it still cover earlier work or is it similar to E&O where all previous covered claims, if any, are no longer covered.
> Have a contractor client that this year mentions I need a General 1,000,000/2,000,000 w/Completed Operations with it. I have General with the dollar value, and a 1,000,000 Prof. Liability coverage for E&O--but no Completed Operations. They claim that the Completed Operations insurance is for after the project, for problems that might arise out of my work afterward..doing pretty much what my E&O is doing. My agent tells me that after talking with them, they aren't budging on the need for it. Am I just crazy, or is this wrong? They tell me a larger survey firm was able to get it, that they used to use a few years ago. Can someone explain?
What does your contract say about insurance requirements?
As for explaining it all, if your agent can not do so, it is time for a new agent. It is their job to know these things inside and out.
Larry P
It's just something new this year. I think the problem is I'm being defined as a surveyor in my current Gen. Liab. insurance, and adding a Completed Ops package to it is mainly for other trades and not surveying. But, like I said--it's now being required so I'm going to have to bite the bullet to get paid. Whether I use it or not. Good idea on having a caveat in the contract about insurance required after the fact should be paid by them. They actually told me they'd help me out over the couple projects get it back, so at least they're working with it. But alas, I can't get over a Gen. Liab. insurance package with something in it that's in the Prof. Liab. package. Just was curious if anyone else out there is seeing this in other states.
I always feel like coming back to clients and demand they provide me with proof of insurance, etc. to cover the project.