WebMar 19, 2008 · I can usually sell 3 out of 4 clients a policy without it, but about 25% go somewheres else to buy the cheaper policy with the CG 2294. I was told that Mid Continent has written about 60 million in premium in the state of Florida through a Florida HBA program with this exclusion. WebThe carriers that write General Liability policies for builders will not like the overall tone of this decision; however, all they have to do to escape liability for construction defect is to use “Exclusion: Damage To Your Work Performed By Subcontractors On …
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WebJul 27, 2009 · If the builder’s general liability policy includes the Exclusion-Damage To Your Work Performed By Subcontractors On Your Behalf (CG2294) or a similar exclusion, find out if the insurance carrier... WebJan 12, 2024 · The CG 22 94—or a company-specific endorsement that accomplishes the same purpose—is used in almost every state. In many states, companies offer the option to buy back the coverage; buy-back … foxy freestyle
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The CG 2294 reads as follows: Although a standard liability policy without the CG 2294 exclusion does not cover "Property damage" to "your work," it would cover your subcontractor's work. For example, insurance will not pay you for your wrong work, only the damage that your work caused and the … See more Tom is a home builder in the state of Oklahoma. He was recently contracted to build a small housing development in Tulsa. Although he holds the contract, he subcontracts out … See more The unendorsed general liability policy would not only respond to the damages to the property but would also pay for the legal costs associated with going to court. At a later date, the insurer might seek reimbursement from … See more For any general contractor or contractor hiring subcontractors, it is essential to look at your contractor insurance policy very carefully. There are … See more The CG2294 would exclude coverage in this situation. There is no longer coverage for products and completed operations for the work that your subcontractors complete. Arguably, without the built-in coverage carve-back … See more WebThe intent of CG2294 is to recognize that property damage to a homebuilder’s or remodeler’s work itself is a business loss that is … WebThe Arkansas Court of Appeals affirmed the denial of coverage for the insured based upon the exclusion for "damage to your product." S.E. This exclusion precludes coverage for "property damage to Your Work arising out of it or any part of it and included in the Products-completed Operations Hazard." foxy freddy plush