COMPREHENSIVE GENERAL LIABILITY
INSURANCE
POLICY
THIS POLICY PROVIDES CLAIMS MADE
COVERAGE. Various provisions in this policy restrict coverage. Read the entire
policy carefully to determine rights, duties and what is and is not covered.
Throughout this
policy the word “Company” refers to the insurer named in the Schedule. The word
“Insured” refers to the Insured named in the Schedule and means any person or
organization qualifying as an Insured under Section 2. of the policy.
Other words and
phrases that appear in bold face print have special meaning. Refer to Section
6. of the policy.
1. COVERAGE
1.1 Insuring Agreements
Subject to the all terms contained herein and
endorsed hereon, the Company will indemnify the Insured for those sums which
the Insured will, as a result of conducting the insured business, become legally liable to pay as damages for bodily injury or property damage caused by an occurrence taking place in the coverage territory. This insurance does
not apply to bodily injury or property damage which take place before
the Retroactive Date shown in Item 6 of the Schedule or which take place after
the policy period.
This insurance applies to bodily injury and property
damage only if a claim for damages because of the bodily injury and property
damage is first made in writing against any Insured during the policy period. A claim by a person or
organization seeking damages will be deemed to have been made when written
notice of such claim is received by any Insured or by the Company whichever
comes first. All claims for damages because of bodily injury to the
same person, including damages claimed by any person or organization for care,
loss of service, or death resulting at any time from the bodily injury, will be deemed to have been
made at the time the first of those claims is
made against any Insured. All claims because of property damage causing loss to the same person or organization as
a result of an occurrence will be
deemed to have been made at the time the first of those claims is made against
any Insured.
In the event of any bodily injury or property
damage arising from continuos, intermittent or repeated exposure to
substantially the same general harmful conditions including, but not limited
to, continuos, intermittent or repeated inhalation, ingestion or application of
any substance and/or where the Named Insured and the Company cannot agree when
the bodily injury or property damage took place, then:
a)
bodily injury will be deemed to have taken place when the
claimant first consulted a qualified medical practitioner in respect of such
injury; and
b) property damage will be deemed to have taken
place when it first became evident to the claimant, even if the cause was
unknown.
The Company will have the right but not the
duty to defend any suit seeking such damage in accordance with Section 4.5 of
the Policy, but the amount that the Company will indemnify for damages is
limited as described in Section 3. of the policy, and the Company may
investigate any occurrence and
settle any claim or suit at the Company’s discretion.
This insurance applies only to damages because
of bodily injury or property damage which are determined in
a suit on the merits taking place in the coverage
territory; or a claims settlement which the Company agrees to; provided,
however, the Company will in no event agree to any claims settlement:
–
which are effected within the
–
which are made in contemplation of litigation taking
place outside the coverage territory;
or
–
which respect to which there is litigation pending
or threatened to take place outside the coverage
territory.
No other obligation or liability to pay sums
or perform acts or services is covered unless explicitly provided for under
Section 1.2 of the policy.
1.2 Claims
Expense Payments
In addition to damage to which this insurance
applies, the Company will indemnify the Insured for claims expenses which respect to any claim or suit seeking such
damages. As provided in Section 3. of the policy, the Limits of Insurance are
inclusive of claims expenses and
therefore the amount that the Company will indemnify for claim expenses reduces the Limits of Insurance available for
damages.
1.3 Exclusions
This insurance does not apply to:
a) Bodily injury or property damage expected or intended from the standpoint of the
Insured. This exclusion does not apply to bodily
injury resulting from the use of reasonable force to protect persons or
property.
b) Bodily injury or property damage due to war, invasion, act of foreign enemy,
hostilities, civil war, insurrection, rebellion, revolution, mutiny, military
or usurped power, riot, strike, lockout,
military or popular uprising, civil commotion, martial law or loot, sack or
pillage in connection therewith, confiscation or destruction by any government
or public authority or any act or condition incident to any of the above,
whether war be declared or not.
c) Fines, penalties,
punitive damages, exemplary damages, treble damages or any other damage
resulting from the multiplication of compensatory damages.
d) Property damage to the Insured’s product arising out of it or any part of it.
e) Property
damage to the Insured’s work
arising out of it or any part of it and included within the products-completed operations hazard.
f) Damages claimed
for any loss, cost or expense incurred by the Insured or others for the loss of
use, withdrawal, recall, inspection, repair, replacement, adjustment, removal
or disposal of the Insured’s product
or the Insured’s work; if such
product or work is withdrawn or recalled from the market or from use by any
person or organization because of a known or suspected defect, deficiency,
inadequacy or dangerous condition in it.
g) Bodily injury or property damage arising out of asbestiform talc, asbestos,
diethylstilbestrol, dioxin, intrauterine device, oral contraceptive, swine-flu
vaccine, tobacco or tobacco products, urea formaldehyde; or any damage due to
the effects of acquired immune deficiency syndrome or hepatitis B.
h) Bodily injury or property damage or any legal liability of any nature directly or
indirectly caused by or contributed to by or arising from:
–
ionizing radiation or contamination by radioactivity
from any nuclear fuel or from any nuclear waste from the combustion of nuclear
fuel;
–
the radioactive, toxic, explosive or other hazardous
properties of any explosive nuclear assembly or any nuclear component thereof;
–
any nuclear reactor, nuclear power station or plant,
premises or facilities whatsoever related to or concerned with the production
of nuclear energy or the production or storage or handling of nuclear fuel or
nuclear waste; or
–
any other premises or facilities eligible for
insurance by any local nuclear pool and/or association.
i) Any obligation of
the Insured under a worker’s compensation, disability benefits or unemployment
compensation law or any similar law.
j) Bodily injury to an employee of the
Insured or other person under contract of service or apprenticeship with the
Insured arising out of and in the course of the relationship with the Insured;
or to the spouse, child, parent, brother or sister of that employee or other
person as a consequence of such bodily
injury to that employee or other person. This exclusion applies whether the
Insured may be liable as an employer or in any other capacity; and to any
obligation to share damages with or repay someone else who must pay damages
because of the injury.
k) Bodily injury or property damage arising out of ownership, maintenance, use,
operation, loading, unloading or entrustment to others of any aircraft or watercraft owned or operated by or rented or loaned to any Insured.
l) Bodily injury or property damage caused by or in connection with or arising from
ownership or possession or use by or on behalf of the Insured of any trailer or
licensed motor vehicle; provided,
however, that this exclusion does not apply to liability in respect of the
loading, unloading or collection of goods onto or from such trailer or licensed motor vehicle.
m) Bodily injury or property damage arising out of rendering of or failure to render
any service of professional nature including, but not limited to, the rendering
of or failure to render:
medical, surgical, dental,
x-ray or nursing service or treatment, or the furnishing of
food or beverages in
connection therewith;
–
any service or treatment intended to be conducive to
health;
–
the furnishing or dispensing of drugs or medical,
dental, or surgical supplies or appliances;
–
professional services by architects, engineers,
surveyors, accountants, lawyers or insurance agents or brokers; or
–
data processing services.
n) Bodily injury or property damage for which the Insured is obliged to pay damages by
reason of the assumption of liability, which would otherwise not attach, in a
contract or agreement.
o) Bodily injury or property damage arising out of the actual, alleged or threatened
discharge, dispersal, release, seepage or escape of pollutants, or any loss, cost or expense arising out of any
direction or request, whether governmental or otherwise, that the Insured
evaluate, test for, monitor, clean up, remove, control, contain, treat,
detoxify or neutralize pollutants.
p) Property damage to:
–
property the Insured owns, rents or occupies;
–
premises the Insured sells, gives away or abandons,
if the property damage arises out of
any part of those premises;
–
property loaned to the Insured;
–
personal property in the Insured’s care, custody or
control;
–
property being loaded or unloaded (onto or from any aircraft, watercraft or licensed motor vehicle) by the Insured
if the property damage arises out of
the loading or unloading;
–
that particular part of any property on, at or with
the Insured or any contractors or subcontractors working directly or indirectly
on the Insured’s behalf are performing operations, if the property damage arises out of those operations; or
–
that particular part of any property that must be
restored, repaired or replaced because the
Insured’s work was incorrectly performed on it.
q) Property damage to land, buildings or other
structures caused by vibration, pile driving, subsidence or demolition or
resulting from the removal or weakening of support or claims arising in
consequence of such property damage.
2. PERSONS INSURED
If the Insured is
designated in Item 1 of the Schedule as:
–
and individual, the Insured and the Insured’s spouse
are Insureds, but only with respect to the conduct of the insured business of which the insured is the sole owner;
–
a partnership or joint venture, the Insured’s
members, the partners in such partnership or joint venture, and their spouses
are also Insureds, but only with respect to the conduct of the insured business;
–
an organization other than a partnership or joint
venture, the Insured’s executive officers and directors are Insureds, but only
with respect to their duties as the Insured’s officers or directors. The
Insured’s stockholders are also Insureds, but only with respect to their
liability as stockholders.
Each of the
following is also an Insured:
a) the Insured’s
employees, other than the Insured’s executive officers, but only for acts
within the scope of their employment by the Insured. However, none of these
employees is an Insured for:
–
bodily injury to the Insured or
to co-employee while in the course of his or her employment; or
–
bodily injury arising out of
his or her providing or failing to provide professional health care or other
professional services; or
–
property damage to property owned
or occupied by or rented or loaned to that employee, any of the Insured’s other
employees or any of the Insured’s partners or members (if the Insured is
partnership or joint venture).
b) any person or
organization having proper temporary custody of the Insured’s property if the
Insured dies, but only with respect to liability arising out of the maintenance
or use of that property; and until the Insured’s legal representative has been
appointed.
c) the Insured’s
legal representative if the Insured dies, but only with respect to duties as
such. That representative will have all the Insured’s rights and duties under
this policy.
No person or
organization is an Insured with respect to the conduct of any current or past
partnership or joint venture that is not shown as a Named Insured in Item 1 of
the Schedule.
3. LIMITS OF
INSURANCE
The Company will
only be liable under this policy for damages and claims expenses in excess of
damages and claims expenses in the
amount of any Insured’s Retained Amount. Only damages and claims expenses which would be covered by this policy (if the terms
of this policy were satisfied) but for the amount of such damages and claim
expenses may satisfy any Insured’s Retained Amount.
The Limits of
Insurance shown in Item 3 of the Schedule and the rules below specify the most
the Company will pay regardless of the number of:
–
insureds;
–
claims made or suits brought; or
–
persons or organizations making claims or bringing
suits.
Subject to the
following paragraph, the Each Occurrence Limit stated in Item 3.1 of the
Schedule is the most the Company will pay in total for the sum of:
–
all damages covered for all bodily injury and
property damage arising out of any one occurrence, and
–
claims expenses in connection therewith.
The Aggregate
Limit stated in Item 3.2 of the Schedule is the most the Company will pay in
total for the sum of all damages covered, and claims expenses in connection
therewith, with respect to all claims made during each policy year.
Any Insured’s
Retain Amount and the Limit of Insurance with respect to each occurrence as
stated in the Schedule will apply regardless of the number of claims arising
out of the same occurrence.
4. CONDITIONS
The due observance
and fulfillment of the terms of this policy in so far as they relate to
anything to be done or not to be done by the Insured, and the truth of all
statements and information supplied to the Company by the Insured will be
conditions precedent to any liability of the Company to make any payment under
this policy.
4.1 Arbitration
All disputes between the Insured and the
Company arising out of or with respect to this policy whether arising before or
after termination of this policy will be submitted to arbitration in the manner
set forth in the mandatory Arbitration Endorsement which is attached to and
hereby made a part of this policy.
4.2 Automatic Renewal
If the policy period set forth in item 5 of
the Schedule is at least one year, at the end of such period and on each
anniversary thereof, upon payment of the applicable premium, the policy period
will automatically be continued for another policy year unless written notice
of termination is given by the Insured or the Company in accordance with
Section Date set forth in such item 5.
4.3 Bankruptcy
Bankruptcy or insolvency of the Insured or of
the Insured’s estate will not relieve the Company of the Company’s obligations
under this policy.
4.4 Cancellation
The first Named Insured shown in Item 1 of the
Schedule or the Company may cancel this policy by mailing or delivering written
notice of cancellation to the other at least ten (10) days before the effective
date of cancellation. Notice of cancellation will state the effective date of
cancellation. The policy period will end on that date.
If this policy is canceled the Company will
send their first Named Insured any premium refund due. If the Company cancels
the refund will be pro rata. If the first Named Insured cancels, the refund
will be based on the following Short Rate Premium Table :
Months in
Force Percentage of Annual Premium
up to .... per item 9 of the Schedule
1 25
3 50
6 75
12 100
The cancellation will be effective even if the
Company has not made or offered a refund.
4.5 Defense
The Company will have the right but in no case
the obligation to take over and conduct in the name of the Insured the defense
of any claim and will have full discretion in the conduct of any proceedings
and in the settlement of any claim and having taken over the defense of any
claim may relinquish the same. All amount expended by the Company in the
defense settlement or payment of any claim will reduce the Limits of Insurance
in accordance with Section 3 of the policy.
In the event that the Company in its sole
discretion, chooses to exercise its right pursuant to this condition, no action
taken by the Company in the exercise of such right will serve to modify or
expand, in any manner the Company’s liability or obligations under this policy
beyond what the Company’s liability or
obligations would have been had it not exercised its right under this
condition.
4.6 Duties In The Event Of Occurrence,
Claim Or Suit
The insured must notify the Company
immediately of an occurrence which may result in a claim. To the extent
possible notice should include :
a)
how, when and where the occurrence took place
b)
the names and addresses of any injured persons and
witnesses and
c)
the nature and location of any injury or damage
arising out of the occurrence
Notice of an occurrence is not notice of a
claim. The Insured must notify the Company of any impending prosecution,
inquest or fatal accident enquiry. If a claim is received by any Insured the
Insured must immediately record the specifics of the claim and dated received,
and immediately notify the Company of the claim.
The Insured must :
–
immediately send the Company copies of any demand,
letter, writ, claim, process, notice, summons or legal paper received in
connection with the claim or suit;
–
retain unaltered and un-repaired any machinery,
plant, appliances or things in any way causing or connected with any event
which might give rise to a claim under this policy for such time as the Company
may reasonably require.
Upon the Company’s request, the insured must:
–
authorize the Company to obtain records and other
information;
–
cooperate with the Company in the investigation,
settlement or defense of the claim or suit; and
–
assist the Company in the enforcement of any right
against any person or organization which may be liable to the Insured because
of injured or damaged to which this insurance may also apply.
When there is an occurrence which may involve
this policy, the Named Insured may, without prejudice as to liability, proceed
immediately with settlements and pay claims expenses with respect to such
settlements provided that such settlements and claims expenses, in their
aggregate, do not exceed any Insured’s Retained Amount listed in Item 4 of the
Schedule.
The first Named Insured shown in Item 1 of the
Schedule will promptly notify the Company of any such settlements made.
Except as provided in the proceeding
paragraph, no Insureds will, except at their own cost, voluntarily make a
payment, assume any obligation, or incur any expense without the Company’s
consent.
4.7 Examination Of The Insured’s Books And
Records
The Company may examine and audit the
Insured’s books and records as they relate to this policy at any time during
the policy period and within three years after termination of this policy or
within one year after final settlement of all claims arising out of any
occurrence, notice of which was given under this policy.
4.8 Inspection And Surveys
The Company has the right but is not obligated
to:
–
make inspections and surveys at any time;
–
give the Insured reports on the conditions that the
Company finds; and
–
recommend changes.
Any inspections, surveys, reports or
recommendations relate only to insurability and the premiums to be charged. The
Company does not make safety inspections. The Company does not undertake to
perform the duty of any person or organization to provide for the health or
safety of workers or the public, nor does the Company warrant that conditions
are safe or healthful; or comply with laws, regulations, codes or standards.
4.9 Legal Action Against The Company
No person or organization has a right under
this policy to join the Company as a party or otherwise bring the Company into
a suit asking for damages from an Insured.
4.10 Notice
Any notice required to be given under this
policy by
–
The Named Insured will be given to the Company by
mailing or delivering such notice to the Company’s headquarters. Notice to the
Company’s or Insured’s agent will not constitute notice to the Company.
–
The Company will be given by mailing or delivering
such notice to the Named Insured first shown in item 1 of the Schedule at the
address shown in such item 1.
If notice is mailed, proof of mailing will be
sufficient proof of notice.
4.11 Other Insurance
If other valid and collectible insurance is
available to the Insured for a loss the Company covers under this policy, other
than insurance that is issued specifically as insurance in excess of the
insurance afforded by this policy, and irrespective of :
–
when such other insurance incepts or terminates;
–
which insurer provides such other insurance; and
–
the basis on Which such other insurance applies or
is triggered;
this policy shall be excess of and shall not
contribute with such other insurance. Nothing in this policy shall be construed
to make this policy subject to any of the terms of other insurance.
4.12 Policy Modifications
This policy contains all the agreements
between the Insured and the Company concerning the insurance afforded. The
first Named Insured shown in Item 1 of the Schedule is authorized to make
changes in the terms of this policy with the Company’s consent. This policy’s
terms can be amended or waived only by endorsement issued by the Company and
made a part of this policy.
4.13 Premium And Premium Adjustment
The first Named Insured shown in Item 1 of the
Schedule is responsible for the payment of all premiums; and will be the payee
for any return premiums the Company pays.
The Company will compute all premiums for this
policy in accordance with the Company’s rules and rates in effect at the time
of inception of the policy year to which such premiums apply.
Unless otherwise agreed, the premium for each
policy year will be due and payable to the Company within fourteen (14) days
after the inception of each policy year. If the named Insured fails to pay the
first premium due under this policy within such fourteen (14) day period, the
Company will send a premium payment reminder to the first Named Insured. In any
case, the policy will be void form the Inception Date if the first Named
Insured fails to pay the first premium within twenty-eight (28) days after the Inception
Date.
If Item 9 of the Schedule specifies that the
premium is an Annual Advance Premium, it is a deposit premium only, and at the
close of each policy year, the Company will adjust the premium by computing the
earned premium for that period. If the Annual Advance Premium paid for the
policy year is greater than the earned premium, the Company will return the
excess to the first Named Insured, subject to the minimum premium set forth in
Item 9 of the Schedule. In the event of termination of the policy during any policy
year, the policy will be subject to the minimum premium set forth in Item 9 of
the Schedule pro-rated for the period during which the policy was in force. If
the earned premium for the policy year is greater than the Annual Advance
Premium, the first Named Insured will pay the difference, the “Adjustment
Premium,” to the Company. Adjustment premiums are due and payable on notice to
the first Named Insured.
If Item 9 of the Schedule specifies that the
premium is a Flat Premium, such premium will not be subject to adjustment.
The first Named Insured must keep records of
the information that the Company needs for premium adjustment, and send the
Company copies at such times as the Company may request.
4.14 Risk Alterations
The Insured must give immediate notice of any
alterations which materially affect the risk covered by this policy.
4.15 Risk Control
The Insured will take all reasonable care to
prevent accidents and will maintain premises, plant and everything used in the
insured business in proper repair, employ only competent employees and comply
with all statutory obligations and regulations imposed by any authority. The
Insured will forthwith make good or remedy any defect or danger which becomes
apparent, take reasonable action at its own expense to trace, recall or modify
any product containing such defect or danger and take such additional precautions
as the circumstances may require.
4.16 Terms
All statements made in the proposal for this
policy and any material submitted therewith or required thereby are the basis
of this policy and, together with the Schedule and any endorsement to this
policy, are hereby deemed material and are incorporated into and constitute a
part of this policy. Any word or expression to which a specific meaning has
been attached in any part of the policy will bear such specific meaning
wherever it may appear.
4.17 Transfer of Rights of Recovery Against Others to the
Company
In the event of any payment under this policy,
if the Insured has rights to recover all or part of any payment the Company has
made under this policy, those rights are transferred to the Company to the
extent of its payment. The Insured must do nothing to impair such rights. At
the Company’s request, the Insured will bring suit or transfer those rights to
the Company and help the Company enforce them.
4.18 Transfer of the Insured’s Rights and Duties under this
Policy
The Insured’s rights and duties under this
policy may not be transferred without the Company’s written consent except in
the case of death of an individual Named Insured.
4.19 Withdrawal
The Company may in the case of any claim or
number of claims in respect of or arising out of any occurrence pay to the
Insured the amount of the Company’s applicable Limit of Insurance or any lesser
sum for which the claim or claims can be settled and the Company will
thereafter be under no further liability in respect thereof.
5.
EXTENDED REPORTING PERIODS
5.1 The
Company will provide one or more Extended Reporting Periods, as described
below, if the Company cancels this policy or the Company replaces this policy
with insurance that:
–
has a Retroactive Date later than the date shown in
Item 5 of the Schedule ; or
–
does not apply to bodily injury or property damage
on a claims made basis.
Extended reporting periods do not apply to
claims that are covered under any
subsequent insurance the Insured purchases, or that would be covered but
for exhaustion of the amount of insurance applicable to such claims.
5.2 An Automatic Extended Reporting Period is provided without
additional charge. This period starts at the end of the policy period and lasts
for twenty-four (24) months for claims arising out of an occurrence reported to
the Company during the policy period in accordance with Section 5 of the
policy.
5.3 An Optional Extended Reporting Period is available, but only
by an endorsement and for an additional premium. This period starts at the end
of the policy period and lasts for a maximum period as stated in the Schedule
or twenty-four (24) months, whichever
period is less. The optional Extended Reporting Period applies to claims
arising out of occurrences which have not been reported to the Company during
the policy period. The additional premium for the Optional Extended Reporting
Period is that percent stated in the Schedule of the premium (including any
Adjustment Premium in accordance with Section 4.13 of the policy) for the
latest policy year.
Unless the Named Insured gives the Company a
written request for the Optional Extended Reporting Period Endorsement prior to
the end of the policy period; and pays the additional premium when due; the
Optional Extended Reporting Period will not go into effect.
5.4 Extended Reporting Periods do not extend the policy period
or change the scope of coverage provided. They apply only to claims for injury
or damage that occurs before the end of the policy period (but not before the
Retroactive Date, if any, shown in Item 6 of the Schedule). Claims for such
injury or damage which are first made in writing against any Insured during the
Automatic Extended Reporting Period (or during the Optional Extended Reporting
Period, if it is in effect) will be deemed to have been made on the last day of
the policy period. Once in effect, Extended Reporting Periods may not be
canceled.
5.5 Extended Reporting Periods do not reinstate or increase the
Limits of Insurance applicable to any claim to which this policy applies and
the available Limits of Insurance applicable to the latest policy year shall
also apply to claims reported during any Extended Reporting Periods.
6. DEFINITIONS
6.1 Aircraft means any heavier than air or
lighter than air aircraft designed to transport any person or property missile,
spacecraft or hovercraft.
6.2 Bodily Injury means bodily injury
sickness or disease sustained by a person, including death resulting from any
of these at any time.
6.3 Claims expenses means :
–
all reasonable and necessary legal fees and other
expenses incurred by the Insured in accordance with Section 4.6 of the policy
with the consent of the Company on behalf of the Insured, in the investigation,
adjustment, settlement or defense of any claim, excluding all salaries of the
Insured’s employees, officers and directors and office expenses;
–
all costs taxed against the Insured in the suit;
–
pre-judgment interest awarded against the Insured on
that part of any judgment the Company makes an offer to pay the applicable
Limit of Insurance, the Company will not pay any pre-judgment interest based on
that period of time after such offer; and
–
all interest on the full amount of any judgment that
accrues after entry of the judgment and before the Company has paid, offered to
pay or deposited in court the part of the judgment that is within the
applicable Limit of Insurance.
6.4
Coverage territory means the country
of location of the Insured business provided, however with respect to trips
connected with the insured business coverage territory means anywhere in the
world except the
6.5 Insured’s
business means :
–
the ownership maintenance or use of premises which are designated in Item
2.1 of the Schedule;
–
operations of the Insured which are designed in Item
2.2 of the Schedule including related activities;
–
the provision and management of canteen, social,
sport and welfare organizations for the benefit of employees;
–
first aid, fire and ambulance services in relation
to the premises and operations designated in the first two subdivisions of this
section, respectively; and
–
private work carried out by any employee of the
Insured for any individual or organization qualifying as an Insured under
Section 2 of the policy.
6.6 Insured’s
Product
–
means any goods or products, other than real
property, manufactured, sold, handled, distributed or disposed of by the
Insured; others trading under the Insured’s name, or a person or organization
whose business or assets the Insured has acquired;
–
means containers (other than licensed motor
vehicle), materials, parts or equipment furnished in connection with such goods
or products;
–
includes warranties or representations made at any
time with respect to the fitness, quality, durability or performance of any of
the items included in the first two subdivisions of this section and
instruction or advice on the nature, use or storage of the Insured’s products
provided by or on behalf of the Insured’s; and
–
does not include vending machines or other property
rented to or located for the use of the others but not sold.
6.7 Insured’s Retained Amount means are any
amount stated in Item 4 of the Schedule and applies as indicated in such Item 4
and in accordance with Section 3. of the policy.
6.8 Insured’s
work:
–
means work or operations performed by or on behalf
of the Insured’s;
–
means materials, parts or equipment furnished in
connection with such work or operations; and
–
includes warranties or representations made at any
time with respect to the fitness, quality, durability or performance of any of
the items included in the first two subdivisions of this section and
instruction or advice on the nature, use or storage of the Insured’s work
provided by or on behalf of the Insured.
6.9 Licensed motor
vehicle means any type of machine designed to travel on wheels or on
self-laid tracks and to be propelled by other than manual or animal power which
is subject to licensing by a public authority and/or compulsory motor-car
insurance.
6.10 Occurrence means a
fortuitous event, including continuous, intermittent, or repeated exposure to
substantially the same general harmful conditions.
For the purposes of this policy, where a
series of and/or several bodily injuries and/or property damages occur which
are attributable directly or indirectly to the same defect or hazard or alleged
defect or hazard or failure to warm or event or condition or cause, all such
bodily injuries and/or property damages shall be added together and the total
amount of such bodily injuries and/or property damages shall be treated as one
occurrence irrespective of the period or area over which the bodily injuries
and/or property damages occur
6.11 Policy period means the period of time
commencing on the Inception Date and terminating on the Expiration Date shown
in Item 5 of the Schedule, both days at 12:01 A.M. Standard Time at the address
of the Named Insured; provided, however, such period may automatically be
continued in accordance with Section 4.2 of the policy.
6.12 Policy year means are period of one
year, within the policy period, commencing each year on the day first named in
Item 5 of the Schedule or, if the time between the Inception Date stated in
Item 5 of the Schedule, or any anniversary thereof, and the termination date of
this policy is less than one year, then such lesser period.
6.13 Pollutants means any solid, liquid,
gaseous or thermal irritant or contaminant, including smoke, vapor, soot,
fumes, acids, alkalis, chemicals and waste. The term “waste” as used in this
definition includes materials which are to be or are being recycled, reconditioned
or reclaimed.
6.14 Products-completed operations hazard
includes all bodily injury and property damage occurring away from promises the
Insured owns or rents and arising out of the Insured’s product or the Insured’s
work except:
–
product that are still in the Insured’s physical
possession; or
–
work that has not yet been completed or abandoned.
Insured’s work will be deemed
completed at the earliest of the following times:
–
products that are still in the Insured’s contract
has been completed;
–
when all of the work to be done at the site has been
completed if the Insured’s contract calls for work at more than one site; or
–
when that part of the work done at a job site has
been put to its intended use by any person or organization other than another
contractor or subcontractor working on the same project.
Work that may need service, maintenance,
correction, repair or replacement, but which is otherwise complete, will be
treated as completed.
This hazard does not include bodily injury or
property damage arising out of the existence of tools, uninstalled equipment or
abandoned or unused materials.
6.15 Property damage means physical injury
to tangible property, including all resulting loss of use of that property.
6.16 Watercraft
means any ship or vessel of
whatever type including, but not limited to cargo vessels used for transport,
towboats and barges, storage vessels, tanker vessels, drill ships, offshore
drilling platforms, and all other vessels of whatever nature and description,
all whether or not self-propelled.
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