Masonry Magazine October 1966 Page. 11
insurance for contractors
SECOND EDITION
Revised to include the new policy forms and entirely new material on:
* Contract Bonds
* Architects' and Engineers' Professional Liability
* Contractors Equipmers Floaters
* Builders' Risk Insurance
* Employee Benefit Liabaity
* Uniform Hold-Harmless Clauses
* Composite Rating
by
Walter T. Derk
Assistant Vice President
FRED. S. JAMES & Co.
Insurance Brokers and Consultants
Since 1858
PART II
In this installment Walter Derk covers the first three divisions under Comprehensive General Liability. Keep this and every issue of Masonry so that you will have the most up-to-date information on this important business matter.
COMPREHENSIVE GENERAL LIABILITY
Appropriately enough, we begin once more with the standard Comprehensive General Liability policy form used by member companies of the National Bureau of Casualty Underwriters, now in its new format. It costs the same as limited Manufacturers or Contractors Liability policies covering the same exposures and is the policy form under which most businesses will be insured starting with the next renewal.
The important new Insuring Agreement simply commits the insurance company to pay on behalf of the insured all sums which he becomes kgally obligated te pay as damages because of bodily injury or property damage "to which this insurance applies, caused by an occurrence . . ." and is followed by a statement about what will be defended. There are still five distinct divisions of coverage involved:
DIVISION I: OPERATIONS-PREMISES
Covers legal liability for bodily injury or property damage caused by an occurrence (as defined) and arising from (a) buildings or premises owned or eased by the insured and (b) business operations in progress anywhere in the United States, its territories or possessions, or Canada (including international waters or air.