Defines "default insurance" means insurance providing first-party indemnity to a named insured for losses, costs, and expenses sustained by the named insured arising from a third party's material failure, as determined by the named insured, to perform a binding agreement executed by the named insured and such third party, where the third party is not an insured or beneficiary and has no rights under the policy.
Defines "default insurance" means insurance providing first-party indemnity to a named insured for losses, costs, and expenses sustained by the named insured arising from a third party's material failure, as determined by the named insured, to perform a binding agreement executed by the named insured and such third party, where the third party is not an insured or beneficiary and has no rights under the policy.
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{# E23 (Nick, ruling section 1 answer 10): quoting a bill or a court opinion works
the way quoting a news article works. Select a passage above and the same panel
opens: the passage goes to the official you choose, with this document's own
address as its source and its own type. #}