What it does
CG 25 47 modifies the Products-Completed Operations Liability Coverage Part. Bodily injury and property damage in the products-completed operations hazard that can be attributed only to "your work" at a single designated project are subject to a separate Designated Project Aggregate Limit equal to the policy aggregate. Payments do not reduce the policy aggregate or other projects' aggregates.
Who needs it
Contractors whose completed operations exposure is insured separately (for example after operations end, or for wrap-up projects) and whose contracts require per project completed operations limits.
Key provisions and limits
- Projects must be scheduled.
- Losses not attributable to a single designated project reduce the policy aggregate.
- Abandoned, delayed or restarted projects remain the same project.
Quoting and selling notes
- On a CGL, the matching per project products-completed operations aggregate is CG 25 45.
