Legal liability arising out of the ownership and use of cars, trucks, and trailers is another important loss exposure for many businesses. This section examines several commercial auto coverages that can be used to meet this exposure.6
The ISO business auto coverage form is widely used by business firms to insure their commercial auto exposures. Firms have considerable flexibility with respect to the autos that can be covered. There are 10 numerical classifications, each of which is referred to by a numerical “symbol”:
Owned autos only
Owned private passenger autos only
Owned autos other than private passenger autos only
Owned autos subject to no-fault
Owned autos subject to a compulsory ...