The Aircraft, Auto, or Watercraft Exclusion to the CGL Policy

Comprehensive general liability or CGL policies provide protection for a business against liability for personal injury or property damage of a third party caused by the business. However, certain types of liability are not covered by the standard form CGL policy due to various exclusions added to the policy. One such exclusion is Exclusion g - aircraft, auto, or watercraft, which generally excludes CGL coverage for liability arising from ownership or operation of autos, airplanes, and boats. If insurance is needed for the ownership or operation of such vehicles, policies in addition to the comprehensive general liability policy will have to be obtained. An example of this type of exclusion follows:

The Liability Risk Retention Act of 1986 provides for the formation of purchasing groups to buy insurance. Such groups must be made up of members or companies with similar risk exposure due to their involvement in similar businesses. The groups must meet the regulatory requirements of the states in which they are organized, but, due to preemption by the Act, some regulatory requirements of other states in which the groups do business do not have to be met.

Each of the two basic types of life insurance-term life insurance and non-term or permanent life insurance-has several variations. Term life insurance is for a specified period of time. Whole life insurance covers the life of a person, however long that life is.

An insurance policy may contain provisions that state when coverage will be forfeited or which perils are excluded from coverage. Such provisions may be valid and enforceable, if unambiguous.

Business interruption insurance is a form of property insurance that reimburses a business for losses that arise due to damage to the property of the business that reduces the ability of the business to continue its operations. Contingent business interruption insurance is also available to provide coverage for business continuation losses occurring to a business when property of another business is damaged or destroyed.