| Airport Owners and Operators Liability Insurance |
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| Aviation insurance includes markets for general aviation, commercial aviation, manufacturers of aircraft and aircraft components, and owners and operators of airports. Airport owner and operator liability insurance policies generally cover damages from injuries at airports or due to airport operations. More... |
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| Calculation of the Loss - Actual Cash Value or Replacement Value |
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| In paying the loss suffered by a policyholder when property is damaged or destroyed, an insurance company normally will consider its obligation to be to pay the present or depreciated value of the property just before its loss. Thus, destruction of a well-used item could result in a minimal recovery for the policyholder. A policyholder may purchase a relatively inexpensive rider to the policy providing for reimbursement of the replacement value of the damaged or destroyed item. Examination of the insurance policy and any rider should provide details on coverage under the policy for either actual cash value or replacement value. More... |
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| The CGL Policy Exclusion for Damage to the Insured's Property |
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| The standard comprehensive general liability policy insures a business against liability arising from personal injury or property damage suffered by a third party. Various exclusions are included in the CGL policy, including Exclusion J -- Damage to Property, that are designed to limit coverage to third party injury or damage. More... |
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| The CGL Policy Liquor Liability Exclusion |
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| The comprehensive general liability (CGL) policy protects the insured from liability to third parties for personal injury and property damage caused by the insured. However, there are various exclusions from coverage in the standard CGL policy, including Exclusion C for liquor liability. More... |
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| Insurer's Duty of Good Faith and Fair Dealing in Handling Claims of Insureds and Third Parties |
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| If an insured does not think that his insurer handled his claim properly, he may have some recourse. Every contract contains an implied covenant of good faith and fair dealing that neither party will hinder the right of the other to receive the benefits of the contract. The duty imposed by this covenant applies to insurers and insureds. Some courts go so far as to hold the insurer to be a fiduciary to the insured. More... |
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