Term
| Premises and Operations exposure |
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Definition
| applies to an insured business that conducts its operations both at its own premises and elsewhere |
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Term
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Definition
| applies to the bodily injury or property damage caused by any goods or products that are manufactured, sold, handled, distributed, or disposed by the insured |
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Term
| Completed Operations Exposure |
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Definition
| applies to occurrences that occur after the insured’s operations have been completed and result from improper or defective workmanship, installation, construction, or repair |
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Term
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Definition
- Doesn't matter when the loss is reported
- Matters when the loss occured
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Term
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Definition
- takes place after the retroactive Date
- a claim is reported within the policy period or during any applicable extended reporting period.
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Term
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Definition
| under a separate policy for businesses who need coverage to fill the coverage gap |
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Term
| 6 types of insured contracts |
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Definition
- Lease-Liability assumed under a lease of premises
- Easement-Liability assumed under the right to use someone’s land or license agreement
- An obligation-to indemnify a municipality
- Elevator-maintenance agreement
- any other contract or agreement-which one assumes the tort liability
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Term
Pollution Liability Coverage
Pollution Liability Coverage Form |
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Definition
- leak from a waste disposal facility located on the premises.
- Clean up
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Term
Pollution Liability Coverage
Limited Pollution Liability Coverage Form |
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Definition
- leak from a waste disposal facility located on the premises
- EXCLUDES clean up
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Term
Pollution Liability Coverage
Pollution Extension Endorsement |
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Definition
- deletes the Pollution Exclusion for bodily injury and property damage liability
- EXCLUDES clean up
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