1. The policy excludes liability for costs in the repair, reconditioning, modification or replacement of any part of any product which is or is alleged to be defective.
2. For cost arising out of the recall of any product or part thereof.
3. Arising out of any product which is intended for incorporation into the structure, machinery or control of any aircraft.
4. Arising out of deliberate, willful or intentional non-compliance of any statutory provision.
5. Arising out of pure financial loss such as loss of goodwill, loss of market, etc.
6. Arising out of fines, penalties, punitive and exemplary damages.
7. For injury and/or damage occurring prior to the Retroactive date shown in the schedule.
8. Arising out of deliberate, conscious or intentional disregard of the insured’s technical or administrative management of the need to take all reasonable steps to prevent claims.
9. For injury to any person under a contract of employment or apprenticeship with insured where such injury arises out of the execution of such contract.
10. Arising out of contractual liability which would not have existed in the absence of the specific contract.
11. Arising out of any product guarantee.
12. Arising out of claims for failure of the goods or products to fulfill the purpose for which they were intended