is not subject to discount pricing.
Additional Credit Available:
Optional Insurance CE
Optional CPA CPE
This course -Commercial Liability Insurance for Contractors- will examine each of the three coverage parts of the commercial general liability (CGL) policy bodily injury and property damage (Coverage A), personal and advertising injury (Coverage B), and medical payments (Coverage C) including the insuring agreement and exclusions. Although contractors may avail themselves of the coverage provided under all of the coverage parts, the most significant coverage section for contractors, and for most other business entities, is Coverage A bodily injury and property damage. Consequently, that section of the policy will receive more emphasis in this course than other coverage parts. After a careful review of the basic policy’s coverage parts, key policy provisions and conditions will be examined, such as who is an insured, limits of insurance, and notice requirements. Finally, various endorsements that can be attached to the policy to broaden or restrict the scope of coverage or otherwise alter the basic policy terms and conditions will be reviewed.
This is an intermediate level self-study course. Students who successfully complete this course will be able to:
- Identify the major categories of insurable liability risk faced by contractors and explain how each is covered by the standard CGL policy.
- Differentiate the two coverage triggers used in commercial general liability insurance policies and explain how each trigger defines what policy will apply to specific liability insurance.
- Define and give examples of: (1) "bodily injury" and (2) "property damage" and differentiate "bodily injury" from "personal injury".
- Analyze the scope of the CGL exclusions, such as contractual liability, pollution, and "damage to your work," and explain how claims may be covered despite the exclusions.
- Explain the significance of "insured" status to the availability of coverage under a standard CGL policy and differentiate between a named insured, an automatic insured, and an additional insured under the standard CGL policy.
- Explain the reasons why contractors enter into controlled insurance programs or joint ventures and cite examples of a coverage modification that may be necessary when a contractor participates in a CIP or a joint venture.
- Explain the function of umbrella liability insurance, contrast the coverage available under a typical umbrella policy with that of a standard CGL policy, and illustrate the major ways in which a contractor limitation endorsement alters the coverage of an umbrella policy.
While there is no required prerequisite or advance preparation for this course, the Commercial Liability Insurance for Contractors core CRIS course does cover the fundamentals of contractual liability insurance and additional insured status. For this reason, you may find it beneficial to take the liability course before taking Contractual Risk Transfer in Construction.
|CPE Field of Study|
Management Services/Risk Management
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of State Boards of Accountancy (NASBA) as a sponsor of continuing professional
education on the National Registry of CPE Sponsors. State boards of accountancy
have final authority on the acceptance of individual courses for CPE credit.
Complaints regarding registered sponsors may be submitted to the National
Registry of CPE Sponsors through its website: www.nasbaregistry.org.
International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference services. IRMI publications are considered the ultimate authority by leading insurance practitioners and even federal appellate courts when interpreting insurance coverage. Use the knowledge you gain from IRMI CE courses with confidence, knowing they are written by seasoned insurance professionals who employ diligent quality assurance standards to provide the most up-to-date, practical, and reliable information possible.