Also known as: insuring agreements · insurance agreement
Written by attorneys · grounded in primary & secondary sources — see below
A provision in an insurance policy that states the insurer's core promise to pay sums the insured becomes legally obligated to pay as damages because of covered bodily injury or property damage.
Israel Irving sued Icarus Aviation after a plane crash. In its initial disclosures Icarus produced only its domestic liability policy. The court ordered production of the full insuring agreement because it could obligate an insurer to satisfy any judgment.
Ivy Investments purchased a policy whose insuring agreement promised payment for loss by burglary of equipment on the premises. When a break-in occurred the insurer denied coverage under an unmentioned inside-job exclusion. The court enforced the promise stated in the insuring agreement.
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A party must disclose any insurance agreement under which an insurer may be liable to satisfy all or part of a possible judgment or to indemnify or reimburse for payments made to satisfy the judgment.
No. The rule reaches any agreement that may cause an insurance business to satisfy or reimburse a judgment, including excess policies issued to a parent or internal reimbursement arrangements that could supply funds.
Supporting sources
The rule ensures parties know potential sources of recovery early so they can evaluate settlement value and litigation strategy, even when the information does not bear directly on liability or damages.
Supporting sources
…form CGL policy language, which was incorporated in Admiral's policies, was revised in a number of respects by ISO, but the insuring agreement and coverage-related definitions were substantially unaltered. [^15]: We are aware of only one appellate court decision that has adopted the manifestation trigger of coverage for bodily…