What it does
The standard "products-completed operations hazard" excludes injury occurring on premises the insured owns or rents. For "your products" manufactured, sold, handled or distributed on the scheduled premises or in connection with the scheduled operations, CG 24 07 redefines the hazard to include all injury arising out of those products that occurs after the insured has relinquished possession of them.
Who needs it
Restaurants and caterers (food eaten on site), bars, convenience stores, and similar businesses where products are used on the premises.
Key provisions and limits
- Schedule describes the premises and operations.
- Moves on-premises product claims from premises-operations to the products-completed operations aggregate.
Quoting and selling notes
- Underwriters use it to rate food-borne illness and similar losses under products; check the products aggregate is adequate.
