What does Classification Limitation mean? Read on to discover the definition & meaning of the term Classification Limitation - to help you better understand the language used in insurance policies.
A nonstandard exclusion sometimes made part of general liability policies for commercial insureds with a wide range of business activities. The exclusion eliminates coverage with respect to business operations of the insured for which no classification code is listed in the policy declarations. This allows insurers to provide coverage only for the exposures that have been specifically underwritten.
We hope the you have a better understanding of the meaning of Classification Limitation.