What does blanket contractual liability insurance mean?

blanket contractual liability insurance meaning in Insurance Dictionary

Coverage signing up to all responsibility assumed by the insured in contracts, whether reported to your insurer or perhaps not. Keep in mind that the term "blanket contractual obligation insurance" does not address the degree of transported obligation the policy covers, just that it's not required to report contracts towards the insurer for listing into the plan. You're able to have blanket wide type contractual obligation insurance coverage or blanket restricted form contractual responsibility insurance. Contractual responsibility protection had been put into 1973 and earlier in the day edition extensive basic liability (CGL) guidelines by recommendation. Blanket broad type contractual obligation coverage is incorporated into the fundamental provisions regarding the 1986 and subsequent commercial general obligation (CGL) kinds.