U.S. CAPTIVE INSURANCE LAW
74 FOLLOWERS
A captive insurance company is an insurance company that you own. There are a number of "standard" captive insurance policies. One of the most popular is legal liability, which simply pays for an attorney in the event you're sued. There are a host of others which are usually excluded from other insurance policies.
U.S. CAPTIVE INSURANCE LAW
5y ago
My first post on the CGL’s “Recall of Product” exclusion discussed the exclusion’s triggering event or when it happens. This post will explain what costs are excluded. Here is the complete text of this part of the exclusion: This insurance does not apply to damages claimed for any loss, cost, or expense incurred by you or others for the loss of use, withdrawal, recall, inspection, repair, replacement, adjustment, removal or disposal of your product, your work, or impaired property. The verb “incur” -- which means, “become subject to as a result of one’s actions,”[1] -- is central to ..read more