Section 2: Conditions Flashcards
A condition that has a per-OCCURRENCE limit that applies to Coverage E and a per-PERSON limit that applies to Coverage F
Limit of liability
A condition in which insurance applies separately to each insured
Severability of insurance
A condition in which the named insured is responsible for performing a list of specific duties
Duties After Occurence
A condition that applies to 3rd party claimants who are pursuing coverage under the policy
Duties of an injured person
A condition that states that payment under Coverage F is not an admission of liability
Payment of Claim
A condition that states all parties must comply with policy provisions before any suit may be brought against the insurer
Legal action against insurer
A condition that states bankruptcy of an insured does NOT relive the insurer of its obligations under the policy
Bankruptcy of an insured
A condition in which insurance is excess over any other collectible insurance, other than insurance written specifically as excess insurance
Other insurance
A condition that states that the policy only applies to bodily injury or property damage that occurs during the policy period
Policy period
A condition that states that the policy does NOT provide coverage for an insured who has intentionally misrepresented a fact
Concealment of Fraud
