(November 2019)
ACORD forms are designed primarily for use with products associated with standard insurance industry rating and forms organizations, such as the Insurance Services Office (ISO), for use with its manuals, rules, rating plans, and coverage forms. There is no specific Owners and Contractors Protective Liability Coverage Form application, so the information must be gathered through more generic ACORD applications.
Note: Only countrywide ACORD forms are listed in this section. State specific ACORD forms are not listed.
Form 125–Commercial
Insurance Application–Applicant Information Section
All information requested in this form is relevant and important. Be sure to check the appropriate boxes so the insurance company underwriter understands the lines of insurance being submitted for consideration. The first named insured and all other named insureds must be listed. The applicant information is important for both coverage issues and to provide the contact information for inspection, financial, and premium audit functions. Loss information on larger accounts should probably be submitted in the form of copies of currently valued loss runs for the past five years, as well as for the current year to date. Accurate and currently valued loss information for the latest three full and complete years is required for experience rating on larger accounts.
Form 126–Commercial
General Liability Section
This form is very comprehensive and designed to provide the insurance company with as much relevant information as possible with respect to the coverages selected, classifications, and rating. It includes detailed questions that make it very helpful as a risk management and underwriting tool. This section should describe the named insured.
Form 186–Contractors
Supplement
This form should be used to describe the designated contractor. It provides a clear picture of the work the contractor performs.
Each of these forms is very comprehensive and detailed with respect to the type and amount of information requested. However, the coverage provided by the OCP is very specific to a single project. It is always in the best interests of both the insured and the agent or broker to provide a cover letter that includes complete details of the specific project along with the operations and exposures involved.