FAQ Category: GLOSSARY

What does insurer mean? An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or… Read more »

What is an additional insured? With insurance policies, an additional insured is a person or organization that enjoys the benefits… Read more »

What is underwriting? Underwriting is the process through which an individual or institution takes on financial risk for a fee. 

What is primary insured? A person who fills out and signs a request for insurance coverage is usually referred to… Read more »

What is a policy lapse? When all benefits to the policyholder cease and the policy is terminated due to non-payment… Read more »

What does insured mean? A person or organization covered by insurance.

What is an insurance premium? An insurance premium is the amount of money an individual or business pays for an… Read more »

What is an insurance policy? An insurance policy is a contract between the insurer and the policyholder, which determines the… Read more »

What is an exclusion? An exclusion is any specified loss or damage that isn’t covered by the insured’s policy.