What are some of the major exclusions?
- To pay for product recall. (unless offered as extension)
- To pay for repair of product allegedly defective.
- For products used in structure and controls of aircraft.
- Deliberate willful non-compliance.
- Pure financial loss such as loss of goodwill.
- Arising out of fines, penalties other punitive damages.
- War and nuclear group of perils.
- Damage to property belonging to you or held in trust by you.
- Losses arising prior to retroactive date.
- Arising out of deliberate disregard of insured's guidelines regarding use of product.
- Injury to any person in contract or connected in employment with insured.
- Contractual liability unless such would have existed without the specific contract.
- Product guarantee.
- Claims for failure of product fulfilling use intended (Product Efficacy).
- Products having left insured's premises prior to retroactive date.
- Policies covering Exports to US/Canada only with LOI of more than INR 25 Crores.
