The Oregon Department of Insurance is reminding producers who write coverage for the more than 45,000 Oregon contractors licensed through the Construction Contractors Board of a new law that requires general liability insurance coverage include products and completed operations coverage “according to the terms of the policy and subject to applicable policy exclusions.”
The new law is a result of the 2007 Legislature’s passage of House Bill 2654, that took effect on Jan. 1, 2008. Now, new policies for contractors written on or after Jan. 1 will need to include the coverage, the DOI indicated. Existing policies will need to comply with the law on their renewal date, on or after Jan. 1.
The CCB is in the process of finalizing rules to outline the required format for certificates of coverage provided by producers. The certificate will need to reflect that products and completed operations coverage is included, it said.
DOI recommends that the easiest way to provide the CCB with proof of coverage for contractor clients is to sign up for the board’s “online Insurance Entry Access” at http://ccb.state.or.us. An agent certification statement must be signed and provided to CCB to participate in the online program.
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