legal liability coverage form
A legal liability coverage form is the Insurance Services Office, Inc. (ISO), Commercial Property Legal Liability Coverage Form (CP 00 40) that provides coverage for sums the insured is obligated to pay as a result of accidental damage from a covered cause of loss to property of others in the insured's care, custody, or control (CCC).
Additional Information
Not a suitable means of insuring leased premises because of a contractual liability exclusion that eliminates coverage for contractually assumed liability unless the insured would have been liable in tort regardless of the contract.
