Coverage from Multiple Liability Policies
Learn the different methods for allocating coverage among multiple successive or concurrent primary liability policies.
Transcript
Liability insurance, also known as third-party insurance, protects a policyholder from claims by third parties. In this lesson, we’ll explore what happens if multiple liability policies potentially cover the same claim.
I. Types of Multiple-Policy Coverage
A. Concurrent Coverage
Imagine a parent and a subsidiary each bought commercial general liability or CGL insurance policies. A consumer made a claim against the subsidiary that was covered under both policies. This double coverage is called ...
