Masonry Magazine July 1968 Page. 31
What? Not Covered!
(Continued from page 28)
Form Property Damage endorsement is no help here either.
Example No. 7
A contractor was engaged to remodel and enlarge one wing of an industrial plant, said wing being damaged through negligence of the contractor's employees. No coverage should the wing be ruled within the insured's care, custody or control. Practical solution: Purchase of a Broad Form Property Damage endorsement, which would cover all but that particular part being worked on at the time of loss; Umbrella should cover, subject to the self-insured retention. Builders' Risk policy or Installation Floater should also be examined for possible application to loss.
Example No. 8
Following completion of work, a roof deck contractor learned that the deck collapsed due to faulty installation methods, causing bodily injury, damage to contents of the building and replacement of the roof. No coverage for replacement of the contractor's roof deck; that portion of the loss was for damage to the insured's work or materials. The injury and damage to contents are covered under Completed Operations hazard. Practical solution for deck: None. Builders' Risk might be of some value if "all-risk" form, had loss occurred during construction. Most commonly borne as workmanship business risk.
Example No. 9
An electrical parts manufacturer learned that one of the components used in a large number of products has proven to be faulty in a number of cases, causing suspicion that others may be defective as well. The bill for recalling such products for examination was submitted to the insurance company for payment. No coverage; expenses resulting from recall or replacement of the insured's product are excluded. Practical solution: Normally borne as a business expense, although separate Recall Insurance coverage is technically available, often for a prohibitive premium. Recovery from manufacturer of defective component is a distinct possibility not to be overlooked.
Limiting Endorsements Applicable to Specific Exposures
Aside from the standard exclusions listed, the insurance carrier will often attach additional endorsements containing limitations applicable to specific operations or exposures. Too numerous and varied to dwell upon here, these may include, but are not necessarily limited to: Additional Insureds; Additional Interests; Apartment Hotels; Automobile Parking Areas; Condominiums; Employees; Engineers, Architects or Surveyors; Private Residences; State or Political Subdivisions; Watercraft.
What? Not Covered! will be continued next month.
masonry • July, 1968
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