What Is Completed Operations Insurance?
Completed operations insurance covers a contractor’s liability for property damage or injuries to a third party once contracted operations cease. Construction products and the manufacturing of consumer goods and medicines will usually carry completed operations insurance. General liability insurance most often includes completed operations insurance. Contractors and manufacturers may also purchase additional or separate policies in amounts that are more than the general liability limits for loss and injury incurred off the insured’s property.
Do you think the contractor who built this tower could have a completed ops claim? Sure the Architect will be involved, but the contractor better have the proper coverage otherwise their balance sheet is going to become unstable.