No, many policies limit coverage to a specific list of activities. No, many policies exclude specific types of awarded damages, including punitive damages, voluntary payments, penalties, credits, warranties or return payments. Prevents claim adjustment hassles by addressing the requirements of foreign coverage responses, including exchange rates, currency application, coordination with local admitted polices and potential tax liability.
Some policies exclude protection for lawsuits brought outside the U.S. or Canada.
Even if the policy is endorsed to cover foreign suits, foreign coverage conditions are often not addressed. The requirement only applies to Executive Officers and persons responsible for insurance and claim reporting. The requirement usually applies to any insured, including all employees, officers and even stockholders. No, coverage often begins after installation and testing are completed. Performance Delay Security Breach Yes Exceptions are provided when the delay or breach results from a failure of your product or service.