What it does
CG DS 02 07 98 as the Owners And Contractors Protective Liability Declarations, used with CG 00 09. It identifies the named insured (project owner or principal), the designated contractor, the location and description of operations, limits and premium.
Who needs it
Anyone issuing or reviewing an OCP policy for a construction contract.
Key provisions and limits
- Check that the named insured, contractor and project description match the contract.
Quoting and selling notes
- Premium for OCP is usually based on the contract cost of the work.
- OCP policies are usually issued for one project and one contractor; keep the policy period aligned with the contract duration and confirm the owner or agency has accepted the carrier before work starts.
