Term
| Underlying or Primary policy |
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Definition
| Policy that provides the first level of coverage for a liablity loss, under an umbrella policy |
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Term
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Definition
| Coverage provided by underlying policies |
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Term
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Definition
| Group of offenses the includes bodily injury as well as many other offenses. Includes such offenses as malicious prosecution, humilition, libel, slander and defamation of character. |
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Term
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Definition
| A loss of sentimental value. (Cannot be tangibly appraised). |
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Term
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Definition
| Legal actions initiated by one family member against another. |
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Term
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Definition
| Under an unbrella policy, acts like a decuctible for any losss that is not covered by an underlying policy. The insured is responsible for the amount. |
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Term
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Definition
| Exists when one party is held liable for the actions of another. |
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Term
| A Certificate of Insurance |
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Definition
| A document that provides information about the liability and workers compensation insurance for a commercial venture. |
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