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contractual liability insurance

Insurance that covers liability of the insured assumed in a contract. Under the standard commercial general liability (CGL) policy, such coverage is limited to liability assumed in any of a number of specifically defined insured contracts or to liability that the insured would have even in the absence of the contract. See also Contractual liability; Commercial general liability policy; Hold harmless agreement.

Links for IRMI Online Subscribers Only: CLI V.D; CRT X.C


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