An event or occurrence that is unforeseen and unintended.

Property insurance valuation method. The replacement cost of property damaged or destroyed at the time of loss, less depreciation.

Actual Cash Value

Americans with Disabilities Act

A person or organization that meets the definition of an insured within an insurance policy. The party is not named specifically, but it is insured due to a group or class (e.g., employees, officers, and directors).

A person or organization, other than the first named insured, specifically named as an insured in the declarations of the policy.

Injury arising out of an offense committed in the course of advertising activities. Examples include libel, slander, defamation, violation of right of privacy, piracy, unfair competition, or infringement of copyright, title, or slogan.

A legal representative of an insurance company. The agent’s role in the insurance transaction is to sell and service insurance. This person may be an employee. See also Independent Agent, Direct Writer, and Captive Agent.

See Broker of Record

A limitation in many liability policies stipulating the maximum amount available for the total of all claims paid in a period of time. Aggregates are usually annual.