CGL Exclusions
Posted: Tue Oct 20, 2009 4:14 am
I'm taking the Florida online General Lines course & having a hard time understanding why certain thing are excluded from BI & PD coverage form in a CGL policy. I've underlined & made bold the ones that really have me stumped..
Miscellaneous Property Damage - Subject to various exceptions, the CGL policy excludes damage for various kinds of property including: (1) property which the insured owns, rents, occupies or has on loan; or personal property in the insured's care, custody or control; (2) damage arising out of a premises the insured has sold, given away or abandoned; (3) damage to real property the insured occupies, operates, or has in their care, custody or control; and (4) that particular part of any property that must be restored, repaired, or replaced because work of the insured was incorrectly performed while the work was in progress.
Insured's Products - Damage to the insured's own products arising out of the product itself are excluded.
Insured's Work - The CGL policy excludes damage to the insured's own work. Damage arising out of the insured's work even after completion is excluded. Work done by a subcontractor is covered. ** adding premises & operations &/or products & completed operations exposure cto the polciy over this exclusion.
Defects, Delays - There is no coverage for claims based on defect, deficiency, inadequacy or dangerous condition in the insured's product or work, or from delay or failure to properly perform a contract, in so far as it makes property which contains the insured's product or work useless or less useful, or results in loss of use without physical harm to the property. This exclusion does not apply to loss of use of other property when there is sudden and accidental injury to the insured's products or work, after it has been put to its intended use. Is there an endorsement to cover this stuff??
Why cant they simplify this stuff, the wording gets me all messed..
Thanks in advance
Alaina
Miscellaneous Property Damage - Subject to various exceptions, the CGL policy excludes damage for various kinds of property including: (1) property which the insured owns, rents, occupies or has on loan; or personal property in the insured's care, custody or control; (2) damage arising out of a premises the insured has sold, given away or abandoned; (3) damage to real property the insured occupies, operates, or has in their care, custody or control; and (4) that particular part of any property that must be restored, repaired, or replaced because work of the insured was incorrectly performed while the work was in progress.
Insured's Products - Damage to the insured's own products arising out of the product itself are excluded.
Insured's Work - The CGL policy excludes damage to the insured's own work. Damage arising out of the insured's work even after completion is excluded. Work done by a subcontractor is covered. ** adding premises & operations &/or products & completed operations exposure cto the polciy over this exclusion.
Defects, Delays - There is no coverage for claims based on defect, deficiency, inadequacy or dangerous condition in the insured's product or work, or from delay or failure to properly perform a contract, in so far as it makes property which contains the insured's product or work useless or less useful, or results in loss of use without physical harm to the property. This exclusion does not apply to loss of use of other property when there is sudden and accidental injury to the insured's products or work, after it has been put to its intended use. Is there an endorsement to cover this stuff??
Why cant they simplify this stuff, the wording gets me all messed..
Thanks in advance
Alaina