Author |
Message |
(Unregistered Guest) Unregistered guest
| Posted on Tuesday, March 06, 2007 - 09:31 am: | |
This is probably a question for the "old timers." In ours and several of our clients supplementary conditions under Article 11 Insurance and Bonds we have a reference to "XMO Policy and Umbrella Coverage." On a project that is out to bid, we received an inquiry as to what is this? Searching Google, Dogpile, and a couple of others returns no results related to insurance; and a call to two insurance companies solicited "Huh, never heard of it." Is there any one out there who knows the origin of the term or what is XMO Policy? |
Sharon Lund Senior Member Username: sharon_l
Post Number: 8 Registered: 11-2005
| Posted on Tuesday, March 06, 2007 - 09:50 am: | |
I think it should be XCU - Explosion, Collapse, and Underground Damage. Many liability policies exclude them and they need to be added by endorsement for an additional premium charge. |
(Unregistered Guest) Unregistered guest
| Posted on Wednesday, March 07, 2007 - 09:19 am: | |
No, XCU is covered by another paragraph of the Supplementary Conditions. Here is the entire paragraph: "XMO Policy and Umbrella Coverage: Umbrella Liability coverage will be provided for the interests of both Owner and Contractor, in inusrance companies acceptable to the Owner, for occurrence arising out of the specific services performed for Owner, its agents, servants, employees and officers. Coverage shall follow form with all coverage set forth above in this article. Umbrella Coverage - Limit of liability will be Two Million Dollars." |
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