Completed Operations Insurance

Definition

• Insurance that covers an entity for liability after contractual operations have ended. Often purchased by construction companies and the manufacturers of consumer goods to cover liabilities years after operations are deemed "complete", completed operations insurance is usually available as part of a blanket insurance policy, but can be purchased as rider or a separate policy altogether. Also known as "products-completed operations insurance."

Synonyms
products-completed operations insurance, operations completion coverage

Related Terms and Acronyms

• Business Interruption Insurance (BII) — Acronym, Important,
  • Insurance that covers losses in business income after an event interrupts business operations.
• Insurance (insur) — Abbreviation,
  • An arrangement where one party provides financial protection to another party for specific damages or losses.
• Self-Build Insurance — Definition,
  • Insurance that covers a homeowner for problems involved in a construction project.