Dictionary Of Insurance Terms -

: Coverage primarily concerned with legal liability for injuries to others or damage to their property.

: The legal principle that insurance should restore the insured to the same financial position they were in prior to a loss, without providing a profit.

: Specific conditions, circumstances, or items that are explicitly not covered by the insurance policy. Dictionary of Insurance Terms

: A formal document that changes or adds provisions to the original insurance policy. Industry Specific Terminology Key terms used in underwriting and claims processing:

Foundational concepts that govern the legal and ethical framework of insurance contracts: : Coverage primarily concerned with legal liability for

: The right of an insurer to pursue a third party that caused an insurance loss to the insured. Essential Policy Components

: A document providing formal evidence of insurance coverage, often required for business contracts. : A formal document that changes or adds

Standard parts found in most insurance contracts to define coverage: