What is customer property protection?
Thimble offers Customer Property Protection as an endorsement on many general liability policies. It covers damage you’re responsible to personal property in your care, custody, or control.
What is contractual liability coverage?
Contractual liability insurance protects against liabilities that policyholders assume when entering into a contract. Contractual liability involves the financial consequences emanating from liability, not the assumption of the indemnitee’s liability itself.
What is Custody control liability?
Care, custody, or control (CCC) is a term that prevents an insured individual from claiming compensation on property not owned by them that was damaged while in their care. General liability policies typically cover property that is owned by the insured party and not third-party property.
What is a bailee policy?
Bailee insurance fills the gap when your general liability insurance or commercial property insurance isn’t applicable. A bailee policy is a form of inland marine insurance coverage that covers damage or loss of the customer’s property if something happens while it’s in your care.
What is a contractual exclusion?
Also known as exemption, disclaimer, or limitation clauses, they are, as a general guide, any term which purports to restrict, modify or exclude a remedy or liability arising out of a breach; or which appears to exclude or restrict a liability or duty that would otherwise arise.
What is the difference between custody and care and control?
Differences between child custody and care and control Some of these decisions include matters concerning education, religion and healthcare of the child. On the other hand, care and control is only given to one parent, who will be involved in the child’s day-to-day matters.
What is care custody and control extension?
3. CARE, CUSTODY AND CONTROL. This Extension automatically includes a sub-limit of $50,000 any one Occurrence for a Claim where you are legally liable for property of others that is damaged or lost whilst in your Care, Custody and Control (as per Clause 5.1 in this Extension).