Products & Completed Operations Insurance Example

Building Section Vignette and Multiple Choice

Products & Completed Operations Insurance Example

Postby dancan » Thu Nov 21, 2013 7:02 am

Can someone shed some light on Products and Completed Operations Insurance?

According to ArchiFlash and Jenny's notes, Products and Completed Operations Insurance is: purchased by the contractor, it covers their liability for damages caused by installed goods after the contruction phase and transfer of title.

I think I understand the idea but I am trying to visualize some example that will help me solidify the concept.
dancan
 
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Re: Products & Completed Operations Insurance Example

Postby Pow_Arch » Thu Nov 21, 2013 10:52 am

Project is completed. Owner occupies the building. 3 months later an air handling unit stops working, turns out there is defect and the air handling unit spills water all over the air handling room. There is damage done to the floor. Contractor fixes the floor but can be reimbursed for his work as is insured for such circumstances.
That is at least how I see it.
Pow_Arch
 
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