Insurance terms glossary.
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Action Over Exclusion
This exclusion is best understood by first looking at what a "third-party-over action" is. If a worker is injured his sole remedy is worker's compensation. However there may More…
Additional Insured
"An endorsement to an insurance policy that names an individual or entity as being additionally insured by the policy. AI endorsements are often requested from subcontractors by the More…
agency
"A group of persons working together to sell and service insurance policies based on contractual agreements with General Agencies, Managing General Agencies or insurance companies. More…
agent
"Any person authorized to act for, or who is recognized as, the legal representative of another (the principal). An insurance agent represents the insurer in negotiating, servicing, or More…
application
"A printed form developed by an insurer that includes questions about a prospective insured and the desired insurance coverage and limits. It provides the insurer's underwriter More…
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