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a natural characteristic that causes some goods to be spoiled or become damaged, which insurance companies will not accept as a risk: The insurers denied any liability on the grounds that the damage was due to an inherent vice in the computer systems.
inherent vice - A potential defect in a product that could cause damage without external influence, often excluded from insurance policies.
Feb 29, 2024 · An inherent vice exclusion is an exclusion found primarily, though not exclusively, in marine insurance policies that exclude coverage for damage to property that is caused by some feature or aspect of the property itself.
Sep 15, 2011 · Generally, “inherent vice” implies that no external or extraneous peril caused the loss; rather, the loss or damage results from the internal composition of the property, or some aspect of the property that brings about its own destruction.
Inherent vice is an exclusion found in most property insurance policies eliminating coverage for loss caused by a quality in property that causes it to damage or destroy itself.
a natural characteristic that causes some goods to be spoiled or become damaged, which insurance companies will not accept as a risk: The insurers denied any liability on the grounds that the damage was due to an inherent vice in the computer systems.
May 29, 2024 · Inherent vice is, simply put, any damage caused to goods while in transit due to the nature of the product. Food spoiling, iron rusting from moisture in the air, and a product deteriorating due to materials and construction would be a few of many examples of inherent vice.
Define Inherent Vice. means any quality within the material or materials incorporated into the Artwork, which either alone or in combination, results in the deterioration of the Artwork. Inherent Vice does not include any potential for deterioration that is specifically identified in the Final Proposal,
An inherent defect in certain goods that makes them liable to damage. Some fibres, for example, are liable to rot during shipment. If a carrier or insurer of such goods has not been warned of the inherent vice, he will not be liable for damage resulting directly from the defect.
Aug 22, 2020 · A defect or weakness of an item, especially of a cargo, that causes it to suffer some form of damage
