Responsabilidad y CasualidadPregunta 445 de 531
A general liability policy excludes liability the insured assumes by contract, then gives that coverage back for liability assumed in an insured contract. An insured contract is best described as:
a.a defined class such as a lease or a rail siding
b.a contract the insurer has separately approved
c.a bond guaranteeing the insured's performance
d.any written agreement the insured signs
Explicación
The contractual liability exclusion is given back only for a listed set of agreements: leases of premises, sidetrack agreements, easement or licence agreements, obligations to indemnify a municipality where required by ordinance, elevator maintenance agreements, and the tort liability of another assumed in a business contract. Coverage turns on the agreement fitting that defined class, not on the insurer having pre-approved it. A performance bond is surety, a three-party guarantee, and not liability insurance at all.
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