accident
(1) In boiler and machinery
insurance, a sudden and accidental equipment breakdown that causes
damage to the equipment. Boiler and machinery (BM) coverage applies
to loss or damage resulting from an accident to a covered object.
(2) In liability insurance, particularly
older forms, an event that must cause bodily injury (BI) or property
damage (PD) to trigger coverage. Modern liability policies, such
as the commercial general liability (CGL) policy, use the broader
term "occurrence" instead of "accident." See also
Occurrence.
Links for IRMI Online Subscribers
Only:
CAI VIII.G;
CLI V.L;
CPI XI.D