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Legal Liability Coverage Form

Legal Liability Coverage Form

Definition

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.

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