This article discusses the meaning of contractual liability and insured contracts.
October 05, 2020 at 05:00 AM
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Summary: This article discusses the meaning of contractual liability, who the common parties are, and the policy mechanics. Also explored are what an “insured contract” entails, as well as the nature of contracts that do not qualify for purposes of contractual liability coverage under the CGL policy, and the reasons.
When the Insurance Services Office (ISO) introduced the “plain English” approach to its commercial general liability provisions in 1986, many of the coverage concepts were taken from earlier policy provisions, but worded in a more simplistic way. One of these coverages was contractual liability.
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