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23 Cards in this Set
- Front
- Back
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CGL Common Policy Conditions
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Policy can only be changed by endorsement requested by insd. The Co. may audit insds books during period and up to 3 yrs after Co. may inspect, give reports & make reccomendations but disclaims liability for doing so The first named insd must pay & will receive return premiums Insd may not transfer policy w/o written consent of co. - Rights & duties automatically transfer if insd dies to first one who has temp custody then to legal rep Firms involved in nuclear activity receive protection from special insurer pools |
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CGL Cvg A - BI & PD CGL Premises & Operations cvg |
liability arising out of the business location or it's activities at any location - example - customer is injured when she slips & falls on newly waxed floor |
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CGL Cvg A - BI & PD CGL Product & Completed Ops cvg |
Includes all BI & PD occurring away from insd premises arising out of the insds work or products except products still in insds physical possession or work that has not been completed or abandoned. examples: Hooks bakery sells spoiled cream puffs or Magic Carpets leaves a carpet tack and injury results from either. It also includes containers (other than vehicles) , materials, parts or equipt furnished in connection w/ goods or products |
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CGL Cvg A - BI & PD CGL "Work" Definition |
Work is deemed completed at the earliest of: 1)When all work called for in contract is completed 2) when all of the work to be done at the site has been completed if one contract calls for work to be done at more than one site 3) when that part of work done at site has been put to intended use by any person other than contractor or sub |
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CGL Cvg A - BI & PD Contractual Liability |
One biz may assume liability of another biz w/ this agreement. Example: Town of Redton may have agreement w/ H&H drugstore which allows the store to hang a large neon over a public sidewalk as long as the store agrees to assume liability |
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CGL Cvg A - BI & PD Vicarious Liability |
A biz can be held liable because of indirect, or contingent liability due to actions of it's ee's, agents or subcontractors. Example: a bank guard knocks down a man mistakenly thinking him to be a robber. The bank ( and the man separately) could be held responsible for these injuries |
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CGL Cvg A - BI & PD Coverage Limitations |
BI or PD must be caused by an "occurrence" which takes place in the "coverage territory" |
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CGL Occurrence Form
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applies to BI or PD which occurs during the policy period regardless of any later time a claim is made |
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CGL Claims-Made Form
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only applies to BI or PD which occurs on or after the retro date and for which the claim was received or recorded by an insd or the co. during policy period. A retro date will be stated in declarations & normally be the same date of the company's issuing the insd's 1st Claims made policy. |
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Basic Extended Reporting Period
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Claims 1st recorded will be considered to have been made the last day of policy period & would be covered 1) w/I 60 days after policy expiration 2) w/i 5 years after policy expiration if recorded w/I 1st 60 days after policy expiration. This extension is automatic and free of charge. |
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Supplemental Extended Reporting Period
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can be purchased if requested in writing w/I 60 days after policy expiration. Extends basic reporting period to unlimited duration. Claims must be rcvd during supplemental extended reporting period. Does not extend the policy term itself.
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Known Loss Rule
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You can not buy insurance against a loss that is already know to have occurred such as a burning building. In case of soil contamination, if it was not known & caused harm over several years there would be coverage
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CGL Cvg A - BI & PD Exclusions
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Contractual - Liabilty assumed under contract unless insd would have been legally liable regardless of contract such as leases or other agreements made prior to the BI or PD Liquor Liability - If the insd is in the biz of mfg, distributing, selling, serving or furnishing alcohol liability associated to serving to intoxicated or underage person or in violation of law is excluded. That requires separate form EE Injuries - These covered by WC policy Pollution Aircraft, Autos, Watercraft unless watercraft ashore on insds premises, or if less than 26' /not owned by insd & not being used to do something for a charge, parking others autos on or next to insd's premises, numerous types of mobile equipment. |
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CGL Cvg A - BI & PD Exclusions contd.
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No cvg for transportation of mobile equipt by auto or over the road travel of mobile equipt that is sub to compulsory or other laws. Mobile equipt is defined as bulldozers, farm machinery, forklifts and other vehicles designed primarily for off-road use, vehicles that provide mobility for air compressors, generators, pumps, road construction equipt cherry pickers etc. However, if they are sub to a compulsory or other law, the are considered "autos" while in transit from job sites Insds Products or Work Defects/Delays/Recall/Electronic data Other than intentional & contractual the CGL exclusions do not apply to the damage to premises rented to the insured - referred to as fire legal liability |
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CGL Cvg A - BI & PD Exclusions contd.
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Misc. Property Damage - that which insd owns, rents, has on loan or personal property in ccc premises insd has sold, given away, or abandoned A particular piece of real property on which insd is performing ops if the damage arises out of thos ops as to work in progress, that particular part of any property must be restored, repaired or replaced because the work of insd was not performed correctly |
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CGL Cvg B - Personal and Advertising Injury |
covers claims for false arrest, detention or imprisonment, wrongful entry or eviction, & oral or written publications that libel/slander/violates rights of privacy, infringement of copyright Excludes liability from oral or written publications made w/ known false info, liability assumed under contract, breach of contract, failure of products/services to meet advertising standards, wrong price descriptions; any offense committed by insd who is in biz of advertising, publishing, broadcasting |
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CGL Cvg C - Medical Payments
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excludes injuries to insd, a tenant (while on that part of property tenant usually occupies an ee of insd or tenant entitled to WC, one participating in athletics, or injured away from insds premises by the insds work after completion or products along w/ all exclusions for BI/PD a basic limit of $5000 applies and is sub to Occurrence & Aggregate limit. Coverage applies on a per person basis |
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CGL Supplemental payments
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The insd is reimbursed for expenses incurred at companys request related to investigation or defense of claim including up to $250 per day for loss of earnings for time off from work |
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CGL - Who is insd
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1) if individual, the spouse is insd as to conduct of biz if named insd is sole owner, as are legal successors if the insd dies 2) partnership or joint venture - partners, members & their spouses as to conduct of insd biz 3) LLC - mebers & managers 4) Corporation - officers, directors & stockholders EE's (other than exec officers or mgrs. of LLC) are insd as to their acts as ee's sub to limitations: not as to BI or personal injury to named insd or co-ee, acts of omission in providing health care services, damage to property owned, occupied, rented to or loaned to ee, partner or joint venture A non ee who acts as a R.E. manager is an insd If the named insd forms another (biz other than partnership, joint venture or LLC) such organization becomes a named insd for 90 days but only as to events which occur after aquisitition |
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CGL - Limits of Ins.
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2) A limit applies to all damages sustained by any 1 person for P&A injury. Normally same amount as #1 3) A basic limit of $5000 applies to each person under Med Pay 4) $100,000 Fire Damage applies to damages for each fire to premises rented 5)$200,000 applies to all claims during annual policy period except for BI & PD claims arising from insds products & completed ops. This is know as the general limit. The lowest limit is $50,000 and must be higher than the per occurrence limit - these are generally used 6) a separate products/completed ops aggregate base limit of of $200,000 applies in the same manner as #5 |
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Lawyers Professional Liability
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Defense Costs are included in limits of liability |
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Hospital Professional Liability Form
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Pro liability for watercraft is excluded basic limits $250,000/$750,000 aggregate Liability injuries to EE's are excluded |
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Personal Liability Coverage
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Payment for Loss Assessment is NOT included |
