Dec Page

Question of the Month

In this era of mergers and acquisitions, a question often arises as to whether the successor entity assumes the liabilities of the prior business. This issue has relevance in the insurance business, especially when it comes to coverage under a general liability policy.

In the “who is an insured” section of the CGL form, it states that any organization that the named insured newly acquires or forms qualifies as a named insured if there is no other similar insurance available. This would seem to satisfy the question of liability coverage for successor organizations after a merger or acquisition has been accomplished. However, what about occurrences that happened prior to the acquisition or merger?

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