What it does
CG 29 88 modifies the Owners And Contractors Protective Liability Coverage Part. The insurer waives its right of recovery against the scheduled persons or organizations because of payments under the coverage part, to the extent the insured waived its rights before the loss.
Who needs it
OCP policies are bought by a contractor in the name of a project owner or upstream party; contracts sometimes require that policy to carry a waiver as well.
Key provisions and limits
- Schedule lists the parties.
- The 10 93 edition was titled "for use with OCP policy"; that edition only in a handful of jurisdictions.
Quoting and selling notes
- Use CG 24 04 for the CGL; this form attaches only to the OCP policy.
