Insurance 101 – Chapter 4 – Volume 30 – Latent Defect

Latent Defect

A latent defect is a defect that could not be discovered by any known or customary test.  Analysis indicates that the latent defect and inherent vice exclusions are attempts to embody, in the text of the policy, the need for fortuity. An insurer can only reasonably be expected to insure against the happening of a contingent or unknown risk of loss.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

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