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The disagreements are often about whether the additional insurance coverage should cover "independent negligence" by the additional insured, or should only cover liabilities caused by the named insured party's acts. Generally, additional insured clauses are worded in broad terms, such as "any person or organization whom you (the named insured ...
An additional insured, on the other hand, is a person who is jointly insured on your policy and has some financial stake in the insured property. Additional insureds usually reflect a business ...
This article examines emerging areas of certainty and uncertainty in AI coverage in the wake of 'Burlington' (arguably the most impactful recent decision in the world of additional insured ...
Declarations - Identifies who is an insured, the insured's address, the insuring company, what risks or property are covered, the policy limits (amount of insurance), any applicable deductibles, the policy number, the policy period, and the premium amount.
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
Additional living expenses (ALE): Also known as loss of use coverage, this helps cover extra temporary living expenses when you are displaced due to a covered peril. Covered expenses may include ...
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. [1] Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure.
Although your home’s structure is likely covered by your landlord’s insurance, you may need a renters policy, or HO-4 insurance, to cover your personal belongings, liability and additional ...