Claim, Obligation To Pay
Definition of "Claim, obligation to pay"
Clause in liability insurance policies stating that the insurance company has a legally enforceable obligation to pay all claims and defend all suits (even if groundless) up to the policy limits on behalf of the insured for which the insured becomes legally obligated to pay.
Popular Insurance Terms
Coverage in the event of damage or destruction resulting from collision by a vessel or high waves. Excluded are fire, lightning, windstorm, earthquake, and explosion, since these perils are ...
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