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Definitions (47)
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act of God
An unpreventable accident or event that is the result of natural causes such as flood, storm or earthquake.
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Act of God
An unpreventable accident or event that is the result of natural causes such as flood, storm or earthquake.
Meaning awaits approval from a moderator |
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Act Of God
An unpreventable accident or event that is the result of natural causes such as flood, storm or earthquake.
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Aggregate limit
The maximum amount an insurer will pay under a policy in respect of all accumulated claims arising within a specified period of insurance.
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all risks
Term used to describe insurance against loss of or damage to property arising from any fortuitous cause except those that are specifically excluded.
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Average
A clause in non-marine insurance policies whereby in the event of under insurance the claim paid out by the insurer is restricted to the same proportion of the loss as the sum insured under the policy [..]
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BUSINESS INTERRUPTION
An insurance class that protects companies following a material damage loss, against loss of profit, revenue or income. This can also be established to protect Increased Costs of Working and other Add [..]
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certificate of insurance
A document prepared by or signed by an underwriter to provide evidence of insurance. Some are required by law as in Motor and Employers' Liability covers, others such as Marine Insurance certific [..]
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Claims made
This can apply to Liability, Professional Indemnity or Directors & Officers Liability policies. If a claim is made during the time period when a policy is in effect, the insurance company is respo [..]
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CLAIMS OCCURRING
If a claim arises out of an occurrence during the period when a policy is in force, the insurance company is responsible for its payment, up to the limits of the policy, regardless of when the claim i [..]
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