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Insurance Law> General Liability Insurance> Motor Vehicle Exclusions
(The Mobile Equipment Exclusion from CGL Policy Coverage)
The Distinction Between an Insurance Agent and an Insurance Broker
Insurance agents act on behalf of one or more insurance companies. That relationship between the insurance agent and the insurance company provides authority for the agent to act for and bind the insurance company. Insurance brokers, on the other hand, represent insurance purchasers rather than insurance companies even though insurance brokers may receive their commissions from insurance companies. Insurance brokers do not have authority under principal-agent or employer-employee theories to bind the insurance companies that provide the policies insuring companies or individuals.
The CGL Policy Exclusion for Contractual Liability
The comprehensive general liability policy insures the policyholder against liability for personal injuries or property damage to third parties caused by the acts of the policyholder. There are various exclusions from such coverage in the standard CGL policy, including the exclusion for contractual liability.
Insurance Law> General Liability Insurance> Motor Vehicle Exclusions
(The Aircraft, Auto, or Watercraft Exclusion to the CGL Policy)
Third-Party Insurance
An insured may submit a claim to his insurer to recover under two different categories of insurance. The categories are based on whom the insurer is required to pay. If the insurer is required to pay the insured for his direct loss, the insurance classification is "first-party" insurance. If the insurer is required to pay a third party due to a loss caused by the insured to the third party, the insurance classification is "third-party" insurance. This article addresses third-party insurance only.
