Masonry Magazine March 1965 Page. 17
M-Faulty Design, Maps, Plans or Specifications
Where appropriate, many policies will contain an exclusion of liability arising out of faulty design, maps, plans, or specifications. Rather than being "accidents", these concern professional competence and experience of the architect or engineer, an exposure better insured under Professional Liability Policies available for that purpose.
M-Water Damage on or From Insured's Premises
If the damage occurs on or from premises owned or rented by the insured, the policy excludes damage to buildings or inside property caused by (1) the discharge, leakage or overflow of water or steam from plumbing, heating, refrigerating or air conditioning systems, stand-pipes for fire hose or industrial or domestic appliances, or any substance from automatic sprinkler systems, (2) the collapse or fall of tanks or component parts or supports thereof which are part of automatic sprinkler systems, or (3) rain or snow admitted directly into the building through defective doors, windows, skylights, transoms or ventilators, excepting loss due to fire or operations by independent contractors.
N-Individual as Named Insured
Partnership as Named Insured
Where the insured entity is something other than a corporation, a need exists to restrict coverage under this broad policy to business activities; without such restriction, one's interest in entirely different ventures and personal activities would be covered as well. Individual or Partnership as Named Insured Endorsements accomplish this by defining the kind of non-business or non-related business activity excluded.
O-Damage to Property Out of Which
The Accident Arises
The policy excludes damage (1) to goods, products or containers manufactured, sold, handled or distributed or premises alienated (sold or transfered) by the name insured, or (2) to work completed by or for the named insured out of which the accident arises.
In other words, it is not designed to repair or replace the product or work which causes damage. To do so would amount to a replacement warranty, again a business exposure directly related to quality controls and competent workmanship. Where the claim is confined to repair or replacement of a product or work performed, there is no coverage under Division IV of the policy.
Next Month
Part IV Insurance for Contractors
3 ft. charge and
3 ft. discharge height
Designed to dump into wheelbarrow, concrete buggy, mortar buggy or plaster pump with no blocking or raising of the mixer.
For additional information, or to place an order, call Anchor "collect".
PHONE CHICAGO
Area Code 312
discharging Bishop
36"
height
7-2530
Special models available for terrazzo and allied work
Buy DIRECT-FROM-FACTORY and SAVE
ANCHOR MFG. CO.
2922 WEST 26TH STREET CHICAGO, ILLINOIS 60623
ANCHOR
"HY-DUMP"
MODEL 10HT
10 Cu. Ft. Mixer with
14 H.P. Gasoline or
3 H.P. Electric Motor
Write today for FREE catalog
MASONRY March, 1965