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Insurance Coverage Q&A: Policy Provisions and Edition Dates

A question dealing with contracts, policy provisions and edition dates.

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Working as Contractor’s Insurance Agent we often have to add additional insureds to GL policy of our customers. The ISO (04 13) and (12 19) edition dates have a “Limits Provision “that says(sic) we will pay the lesser of either the required insurance from the contract or the limit on the dec page. Here is my dilemma. If the contract requires $1,000,000 Each Occurrence Limit for GL and $ 5,000,000 Umbrella Limit but our customer has $2,000,000 Each Occurrence Limit on the GL dec page, the carrier will only pay the $1,000,000 Contract “lesser amount” not the $2,000,000 GL Limit to protect AI in the event of a monstrous large GL claim.

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