An insurance policy that covers only property specifically described in the policy, as opposed to blanket insurance, which usually covers all property at specified locations.
(a) applying separately to specifically named objects or locations; (b) inaccurately used in referring to primary insurance which must be exhausted before excess insurance applies. (See BLANKET POLICY) STATUTES OF LIMITATIONS—laws establishing time limits within which one must take legal action to bring criminal charges, enforce rights, or seek damages following the act, event, or injury which brought about the right of action. (See Chapter 95, Florida Statutes.) STATUTES OF REPOSE—laws limiting the time during which a product can be the subject of a liability suit, the intent being to protect the manufacturer or seller of a product from liability for damages arising from the product when it is being used beyond its “expected useful life†(as defined in the statutes). (See PRODUCT LIABILITY and F.S. 95.031(2))