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
Chance that an event will occur. The foundation of insurance is probability and statistics. By pooling a large number of homogeneous exposures an insurance company can predict with a given ...
Nonparticipating life insurance under which the first few annual premiums are smaller than would be the case under a traditional nonparticipating policy. While the maximum amount of these ...
Physical, moral, or financial circumstance of a life insurance applicant that sets him or her apart from a physically, morally, and financially sound standard applicant. The underwriting ...
National agency supported by property insurance companies. The bureau is used by companies that do not have their own claims adjusters. ...
Provision in ocean marine cargo policies to limit an insurance company's liability for partial losses; the company has liability only for losses that exceed a stipulated percentage of the ...
Provision in some disability income policies that provides a monthly income benefit to a disabled insured for as long as he or she remains disabled according to the definition of disability ...
Very junior issues of debt, according to explicit statements in the indenture, which rank after other unsecured debt. ...
Frequency of premium payment; for example annually, semiannually, quarterly, or monthly. ...
Monthly income payment from a disability income insurance policy made to the insured wage earner when income has been interrupted or terminated because of illness, sickness, or accident ...
Have a question or comment?
We're here to help.