Insurance Terms

1. Person covered by an insurance policy
3. This deductible type is also referred to as First Dollar Defense, and only applies if there is a loss
5. This is a separate policy that pays out once the primary insurance is exhausted
8. an Extended Reporting Period Endorsement is often also referred to as this
10. Limit type where claim expenses do not erode or reduce the limits of liability
12. This deductible type is also known as Loss & Expense, and applies to both claim expenses and damages
13. This deductible type is the maximum annual amount the insured will pay
14. a specified amount of money that the insured must pay before an insurance company will pay a claim
15. an amendment to an existing insurance contract that changes the terms of the original policy
16. the cost of insurance coverage

1. Company who issues an insurance policy
2. costs paid by the insurance company related to the defense of a claim
4. a licensed legal representative of one or more insurance companies
6. Limit type where the claim expenses will erode or reduce the limits of liability
7. Person applying for insurance
9. the entity listed on the Declarations Page
11. the date on or after which the act, error or omission must occur to be eligible for coverage on a policy if a claim were to arise