 | Insurance terms glossary. |
| selected terms: 13 | page 1 of 1 |
- claim
- A notification to an insurance company requesting indemnification due to a loss or damage. It is important to follow the procedure for filing a claim as per the policy. In the event of More…
- claims-made form
- "A liability policy that provides coverage for an injury or loss if the claim is first reported or filed during the policy period. This is in contrast to the broader occurrence policy More…
- Coinsurance
- "The coinsurance clause is the insurance company's way of ensuring that you provide them with the correct replacement cost estimates for the property you are insuring. If you More…
- collision deductible waiver
- In auto coverage the collision deductible waiver pays your collision deductible if your insured car is involved in an accident in which an uninsured motorist is held legally responsible. More…
- Combined Single Limit
- This is a term that applies to auto policies. Liability limits for auto policies are either split limits or combined single limit. A split limit is expressed in the following format More…
- commercial general liability policy (CGL)
- A policy form introduced by the Insurance Services Office in 1986, and subsequently amended, to replace the comprehensive general liability policy. The two basic coverage forms available More…
- Common Policy Declarations
- "Under the latest commercial lines program, a common declaration page which is part of every commercial policy. It shows information applicable to the entire policy (policy number, More…
- completed operations coverage
- "Liability insurance for injury or damage resulting from real or alleged faults in work completed by the insured. Completed operations insurance is purchased by commercial insureds who More…
- comprehensive general liability policy
- The comprehensive general liability policy form was initially developed by the Insurance Services Office (ISO) in 1940 and revised several times thereafter. It was the first commercial More…
- Concealment
- "The intentional withholding of information that will result in an imprecise underwriting decision. For example, concealment of an existing medical condition by an insured when More…
- Construction Contract
- "A contract is a legally enforceable promise between two or more parties. A contract can be verbal or written. These agreements often require one of the parties to pay or indemnify the More…
- cross-liability coverage
- Cross liability coverage covers liability when one insured sues another insured on the same policy. ISO policies include this coverage under the Separation of Insureds clause but coverage More…
- cross-liability endorsement
- "An endorsement that clarifies or alters coverage as regards to cross-liability claims. The endorsement commonly means that cross-liability coverage is provided but originally cross More…
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