Summary
Legal liability on specific property items can fit into either the Commercial General Liability or the Commercial Property forms. ISO chooses to provide limited "universal" coverage under the Commercial General Liability and broader "specific" coverage under the Commercial Property coverage. The form CP OO 40 Legal Liability Coverage is designed to cover very specific situations that have arisen because of very specific contractual obligations. The coverage has most of the characteristics of a property coverage form with some of liability features added in. Before selecting this coverage form, it is helpful to explore the other options available to the insured, in order to determine the most appropriate form to use in covering real and personal property legal liability.
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Legal Liability
What is a liability form doing in the Commercial Property Program?
Legal liability on specific property items can fit into either the Commercial General Liability or the Commercial Property forms. ISO chooses to provide limited "universal" coverage under t...See the full content of this document
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