Other Insurance Clause General Liability
Top FAQs for Other Insurance Clause General Liability
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What is an other insurance clause?
Other Insurance Clause — a provision found in both property and liability insurance policies establishing how loss is to be apportioned among insurers when more than one policy covers the same loss. These provisions vary: some policies provide no coverage when other insurance is in place, some pay a pro rata share, and others apply in excess.
What is other insurance?
Other insurance refers to situations where more than one insurer covers the same asset or assets. Most types of insurance, except life insurance have "other insurance clauses." It is common for other insurance clause to state that where there is other insurance, the insurers will each pay out a portion of the claim.
What is the definition of general liability insurance?
General liability insurance is an insurance coverage that protects business owners, and their businesses from third party claims which involve property damage and bodily harm or injury. This coverage protects business owners and pays for the cost of litigation, bonds, settlements, and judgements as posted by the courts to the extent of the policy limit.
What is a general liability?
General liability insurance protects a business from a variety of possible claims including bodily injury, property damage, copyright infringement, reputational harm and advertising injury. Bodily injury caused by a business is a common claim.
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