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Crisis Response Coverage

Summary: This article presents a description and an analysis of a commercial umbrella liability policy developed by American International Group (AIG). The policy has an edition date of July 2002 and contains an AIG specialty named CrisisResponse.

Topics covered:

Insuring agreement I

Insuring agreement II

Defense provisions

Limits of insurance

Exclusions

Conditions

Definitions

Insuring Agreement I

This insuring agreement commits the insurer to pay on behalf of the insured those sums in excess of the retained limit (a defined term) that the insured becomes legally obligated to pay as damages by reason of liability imposed by law. This pertains to bodily injury (BI), property damage (PD), or personal injury (PI) and advertising injury (AI) to which the umbrella insurance applies, or to bodily injury or property damage to which the insurance applies assumed by the insured under an insured contract (a defined term).

For this insurance to be applicable, the bodily injury or property damage has to be caused by an occurrence that takes place anywhere and occurs during the policy period. The same is true for personal injury and advertising injury coverage. So, the policy is an occurrence type policy. This insuring agreement also contains the known loss language which prohibits coverage if the BI, PD, PI, or AI occurs prior to the policy period and is known to have occurred by the insured.

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