Exclusions, Business Liability Insurance
Definition of "Exclusions, business liability insurance"
Provision used to avoid duplication of coverage in other policies; to eliminate coverage for property under the care, custody, and control of an insured business; as well as to avoid liability arising out of contractual obligations between the insured business and another party; liability associated with recall of the insured business's products; liability associated with the insured business's pollution and contamination exposure; and liability that may arise if the insured business is found to be in conflict with state liquor regulations.
Popular Insurance Terms
Determination of (1) a future property or liability insurance or reinsurance rate or (2) a premium for a specified future period of time. It is based on the loss experience of a specified ...
Coverage for dispensers of alcoholic beverages against suits arising out of bodily injury and/or property damage caused by its customers to a third party. Establishments covered include ...
Trade association whose objective is to further the interests of its membership, as well as to inform the public on the role of its members. ...
Plan that permits the insurance company to administer health care plans that permit the patient to choose from three benefit options at the time of need: indemnity (insurance), HEALTH ...
Bond that provides additional security for a loan. ...
Coverage for a group of individuals under one policy. Usually, members belong to a particular company, union, or trade association. In a contributory plan a lump sum premium is paid by the ...
Same as term Excess of Loss reinsurance: method whereby an insurer pays the amount of each claim for each risk up to a limit determined in advance and the reinsurer pays the amount of the ...
Sections with standard wording common to all property and casualty insurance contracts: conditions, declarations, exclusions, insuring agreement. ...
Geographical area in which commerce can be conducted without tariffs being applied. The concept was adopted in insurance through the use of a reinsurance facility for buying and selling of ...
Have a question or comment?
We're here to help.