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contractual liability insurance

Contractual liability insurance covers liability of the insured assumed in a contract.

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Additional Information

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.

Related Terms

Contractual liability is liability imposed on an entity by the terms of a contract.

The commercial general liability (CGL) policy is a standard insurance policy issued to business...

A hold harmless agreement is a provision in a contract that requires one contracting party to...