ISO revises its basic forms and endorsements in response to new laws, court opinions and coverage questions as well as changes in exposures and technology. The 2001 ISO General Liability policy and endorsements contain several significant amendments. Although endorsements are developed on an annual basis, a new General Liability policy, like the 2001 version, is introduced about every five to 10 years on average. The pace has accelerated since 1990, with new forms being introduced every two to three years since that time. Some important 2001 version changes are: Known Injury or Damage: New language in the “Coverage A Insuring Agreement” (previously an endorsement) overcomes the Montrose “loss in progress” ruling.
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