 | Insurance terms glossary. |
| selected terms: 79 | page 2 of 4 |
- 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…
- Deductible
- "A deductible is the amount you pay out-of-pocket for expenses for an insurance claim. On a General Liability policy the deductible can apply to Bodily Injury (BI) and Property Damage More…
- Direct Exess (Garage Liability)
- "Garage policies can be either Legal Liability, Direct Exess or Direct Primary. With a Legal Liability form the customer of the garage would have to prove that the garage owner was More…
- Direct Primary (garage policy)
- "Garage policies can be either Legal Liability, Direct Exess or Direct Primary. With a Legal Liability form the customer of the garage would have to prove that the garage owner was More…
- Duty to Defend
- "A liability policy provision that the insurer has an obligation to defend the insured in a suit brought by a third party. For occurrences covered by the policy, a defense must be More…
- EIFS - Exterior Insulation Foam Systems
- "EIFS is a type of exterior cladding sometimes referred to as a ""synthetic stucco"" and also known by individual brand names such as Dryvit, Sto and others. EIFS More…
- employer's liability
- " Insurance that covers an employer's liability for bodily injury to employees occurring within the scope of their employment when that liability is not covered by workers' More…
- Employment Practices Liability Insurance
- " Protection from litigation involving your employees for Wrongful Termination, Discrimination, and Sexual Harassment can be purchased under a separatepolicy. This is NOT More…
- Endorsement
- The only way to change an existing policy is by endorsement. An endorsement is a document attached to an insurance policy that modifies the policy. A common endorsement is the Additional More…
- Estoppel
- "A legal principle that when an individual represents a material fact to another, who alters his position in reasonable reliance on the representation, the first may not deny that the More…
- Exmod
- "In California the experience modification or exmod is calculated by the Work Comp Insurance Rating Bureau (WCIRB) for insureds that generate a minimum amount of premium in the prior More…
- Experience Modification
- "In California the experience modification or exmod is calculated by the Work Comp Insurance Rating Bureau (WCIRB) for insureds that generate a minimum amount of premium in the prior More…
- Experience Rating
- "The development of a premium for a specific policyholder by using that insured's own loss experience to apply a premium modification factor to the manual rate. If the More…
- Fraud
- The intentional misrepresentation or concealment of a material fact in order to induce another person to make or to refrain from making a contract. Insurance fraud is any willful deceit More…
- GA
- "An individual or entity authorized by an insurance company to be its exclusive representative in a particular geographic area for all or a specific line of business. Activities on More…
- General Agent
- "An individual or entity authorized by an insurance company to be its exclusive representative in a particular geographic area for all or a specific line of business. Activities on More…
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