What does Broad Form Property Damage mean? Read on to discover the definition & meaning of the term Broad Form Property Damage - to help you better understand the language used in insurance policies.
Broad Form Property Damage
The liability exposure represented by the risk of loss to property in a contractor's care, custody, or control (CCC) or on which contracted operations are being performed. Because of the scope of exclusions applicable to these two risks of loss in the 1973 comprehensive general liability (CGL) form, an endorsement was necessary to provide coverage for the BFPD hazard. Coverage for the same exposure is provided automatically in 1986 edition and subsequent commercial general liability (CGL) forms by means of exceptions to the CCC and property damage (PD) exclusions.
We hope the you have a better understanding of the meaning of Broad Form Property Damage.