Business Risk Exclusion
Definition of "Business risk exclusion"
Omissions from coverage found in products liability insurance. The policy does not provide coverage if the business manufactures a product that does not meet the level of performance as advertised, represented, or warranted. For example, an automobile antifreeze is advertised as being able to withstand temperatures as low as 30 below zero. An engine block containing the fluid freezes at a temperature of 10 above zero. In this instance a products liability policy would not provide coverage for the insured business.
Popular Insurance Terms
Same as term CEDE: to transfer a risk from an insurance company to a reinsurance company. ...
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Total premiums received by a property and liability insurance company without any adjustments for the ceding of any portion of these premiums to the reinsurer. ...
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