What does Contractors Limitation Endorsement mean? Read on to discover the definition & meaning of the term Contractors Limitation Endorsement - to help you better understand the language used in insurance policies.
Contractors Limitation Endorsement
An endorsement usually attached to umbrella policies of contractors and construction-related entities imposing limits or exclusions on the umbrella's coverage with respect to one or more of the following exposures: explosion, collapse, and underground (XCU) hazard; care, custody, or control (CCC); contractual liability; damage to work (broad form property damage (PD)); professional liability; joint ventures; and wrap-ups. Some endorsements operate to make the umbrella coverage following form over the coverage provided for these exposures in the underlying policy. However, other versions of the endorsement impose more restrictive conditions or even absolute exclusions. It is desirable to confirm that following form coverage is provided over explosion, collapse, underground, broad form PD, and contractual liability coverage, as provided within the primary layer.
We hope the you have a better understanding of the meaning of Contractors Limitation Endorsement.