Across
- 2. Can also be known as vertical coverage and is the additional coverage provided by the secondary policy above the primary policy's limit.
- 6. Insurance coverage under which liability applies immediately upon the happening of an accident or event that gives rise to liability.
- 8. The attachment point of excess coverage lowers in response to payments made by the primary insurer and that reduce the primary policy limit.
- 9. Total sum, after reduction for recoveries or salvages collectible, that the insured becomes legally obligated to pay as damages by reason of settlement or judgments or any arbitration or other alternate dispute method entered into with our consent or the underlying insurer's consent.
- 10. An amount of money which the policyholder must pay on that claim before reaching the horizontal umbrella coverage.
Down
- 1. The dollar amount necessary to exhaust the underlying limit and thereby trigger the secondary policy's coverage
- 3. Insurance coverage is coverage under the terms of the policy, liability attaches only after a predetermined amount of primary coverage has been exhausted.
- 4. Can also be known as horizontal coverage and provides coverage for additional claims not covered by the primary policy.
- 5. Does not relate back to, or depend on, the coverage terms of the primary policy.
- 7. Where the secondary policy provides insurance with exactly the same terms and conditions as the primary policy.