Brent Radcliffe

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  1. Term

    Commercial Package Policy (CPP)

    An insurance policy that combines coverage for multiple perils, such as liability and property risk.
  2. Term

    Buffer Layer

    The difference between the primary limit of insurance and any excess layer of insurance.
  3. Term

    Anti-Stacking Provisions

    An insurance policy provision which prevents more than one limit or deductible from applying to a single insured event.
  4. Term

    As Their Interests May Appear (ATIMA)

    Text in an insurance policy that allows other parties to be added to the coverage.
  5. Term

    Back Pay

    The amount of salary and other benefits that an employee claims that he or she is owed after a wrongful termination.
  6. Term

    General Account

    The account where an insurer deposits premiums from the policies that it underwrites, and from which it funds the day-to-day operations of the business.
  7. Term

    Commercial Output Policy (COP)

    An insurance policy that provides both commercial property and inland marine coverage.
  8. Term

    Converted Losses

    The total amount of claims incurred multiplied by a loss conversion factor.
  9. Term

    Hammer Clause

    An insurance policy clause that allows an insurer to compel the insured to settle a claim.
  10. Term

    Nonadmitted Balance

    An item on an insurer’s balance sheet that represents reinsured liabilities for which the reinsurer has not provided collateral.
  11. Term

    Cyber And Privacy Insurance

    An insurance policy that provides coverage from losses resulting from a data breach or loss of electronically-stored confidential information.
  12. Term

    Back-To-Back Deductible

    An insurance policy deductible that is the same as the coverage limits.
  13. Term

    Cross Liability Coverage

    An endorsement that provides coverage for insurance policies that cover multiple parties, and in which one of the parties is held liable for a claim made by another party on the same contract.
  14. Term

    Contractual Liability Insurance

    An insurance policy that protects against liabilities that the policyholder has assumed from entering into a contract.
  15. Term

    Contingent Commission

    A commission with a value dependent on an event occurring, and that is paid to an intermediary by an insurance company or reinsurance company.
  16. Term

    Collection Commission

    The percentage of premiums that an agent is owed for collecting life insurance policy premiums.
  17. Term

    Associate In Reinsurance (ARe)

    A designation earned by insurance professionals looking for reinsurance training, and conferred by The Institutes.
  18. Term

    Automatic Premium Loan

    An insurance policy provision that allows the insurer to deduct the amount of the outstanding premium from the value of the policy when the premium is due.
  19. Term

    Blanket Contractual Liability Insurance

    Liability insurance that provides coverage for all contracts in which the insured is assuming liability.
  20. Term

    Allied Healthcare Professional Liability Insurance

    Professional liability insurance that provides coverage for medical professionals who are not physicians.
  21. Term

    Associate In Surplus Lines Insurance (ASLI)

    A designation earned by insurance professionals involved with surplus lines insurance, and conferred by The Institutes.
  22. Term

    Anniversary Rating Date (ARD)

    The day and month that an insurance policy came into effect, and, when reached the following year, marks the date at which the policy can be reexamined.
  23. Term

    Class 2 Insurance

    Insurance that covers individuals that are not specifically named in an auto insurance policy.
  24. Term

    Bingo Card Program

    A motor vehicle registration method that required the operator of a motor vehicle to carry a card that was stamped by each state that the vehicle was operated in.
  25. Term

    Blanket Medical Expense

    An insurance policy which provides coverage for all medical expenses below an aggregate limit.
  26. Term

    Cestui Que Vie

    The individual who is the beneficiary of a trust or insurance policy that is legally attached to his or her name.
  27. Term

    Aviation Accident Insurance

    Insurance that provides coverage for injuries resulting from an aircraft accident.
  28. Term

    Aircraft Insurance

    Insurance that provides liability and property coverage of aircraft.
  29. Term

    Boat Owners' Insurance

    An insurance policy that provides coverage for individuals who own and operate a boat or personal watercraft.
  30. Term

    Watercraft Insurance

    Insurance policies that provide coverage for boats and personal watercraft.
  31. Term

    Boiler And Machinery (BM) Insurance

    An insurance policy that provides coverage for physical damage to and financial loss from equipment breakdown.
  32. Term

    Bordereau

    A report provided by a reinsured company detailing the losses or premiums affected by reinsurance.
  33. Term

    Borrowed Servant Rule

    A legal doctrine indicating that an employer may be held liable for the actions of a temporary employee.
  34. Term

    All-In Coverage

    A type of insurance coverage that applies to communally used features in residential multi-family buildings as well as the structures inside the individual units.
  35. Term

    Blended Finite Risk

    Insurance that provides coverage against multiple types of risks through a combination of risk transfer and risk financing.
  36. Term

    Architects And Engineers (A&E) Liability Coverage

    Professional liability insurance that provides coverage to architects and engineers from errors and omissions claims.
  37. Term

    Aftermarket Parts

    Replacement parts that are not made by the original equipment manufacturer.
  38. Term

    Alternate Employer Endorsement

    An insurance policy endorsement that extends workers compensation coverage to other companies that the primary insured may do business with.
  39. Term

    Cumis Counsel

    Legal counsel chosen by the insured when the insurer has a conflict of interest.
  40. Term

    Aggregate Limits Reinstatement

    An insurance policy clause that allows the policy limits to be returned to their maximum amount during the policy’s extended reporting period.
  41. Term

    Single Entity Coverage

    A type of insurance policy that covers all real property in a condominium, including both the common areas shared by all property owners as well as the individual units.
  42. Term

    Cumulative Collusive Excess Cover

    A reinsurance contract in which losses over a predetermined limit are shared between the cedent and the reinsurance company.
  43. Term

    Delay In Completion Coverage

    Insurance coverage that protects the insured against costs arising from the delay of a construction project.
  44. Term

    Constructive Discharge Claim

    An insurance claim made by an employee who has quit his or her position, and which indicates that the employee made this decision because conditions at the office had become intolerable.
  45. Term

    Cooperation Clause

    An insurance contract clause that requires the policyholder to assist the insurance company in the event that a claim is filed against the policy.
  46. Term

    Coincidental Excess Coverage

    Insurance coverage that provides excess coverage for a specified event or circumstance.
  47. Term

    Continuous Contract

    A reinsurance contract that does not have a fixed contract end date, and which will continue to be renewed and be in effect until one of the parties in the contract provides notice that it will terminate. ...
  48. Term

    Chaplain Malpractice Insurance

    Liability insurance that provides coverage for chaplains, priests, and other clergy members.
  49. Term

    Class 1 Insurance

    Insurance that covers an individual occupying an owned vehicle, an individual occupying a vehicle owned by a resident relative, a pedestrian, or a bicyclist.
  50. Term

    Classified Insurance

    Insurance coverage provided to a policyholder that is considered more risky and less desirable to the insurer.
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