owned property exclusion

Insurance. A provision in a comprehensive general liability insurance policy allowing only third parties who are injured on or by the insured’s property to make liability claims against the insurer.

• The provision ordinarily excludes coverage for (1) property owned, rented, occupied, sold, given away, or abandoned by the insured, (2) personal property in the care, custody, or control of the insured, and (3) property located where the insured and its employees work. [Cases: Insurance 2278(25). C.J.S. Insurance § 947.]

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词条贡献者

资深译员Lynn，知名国际商学院金融专业，专注翻译各种与贷款人责任及其他银行业与金融机构诉讼有关的法律文件。