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
Insurer's total payments resulting from a claim, including all related expenses, less any recoveries from salvage, reinsurance, and the exercise of subrogation rights or other rights ...
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Policy purchased by an insured from an insurer in another state. This insurer is not licensed in the state where the insured's risk is located. ...
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Measure showing how much life insurance an agent has lost through replacement. It is expressed as a percentage of number of policies, face amount, or premium volume. ...
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