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legal liability coverage form (ISO)

The Insurance Services Office, Inc. (ISO), commercial property coverage form (CP 00 40) that provides coverage for sums the insured is obligated to pay as a result of accidental damage from a covered cause of loss to property of others in the insured's care, custody, or control (CCC). Not a suitable means of insuring leased premises because of a contractual liability exclusion that eliminates coverage for contractually assumed liability unless the insured would have been liable in tort regardless of the contract.

Links for IRMI Online Subscribers Only: CPI VI.C


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