Property and Casualty Insurance

Insurance for financial institutions against losses from burglary, robbery, and criminal attacks on money, securities, and business records.

A cause of loss form lists the specific perils an insurance contract covers or excludes.

Expediting expenses are extra costs incurred after a covered property loss to repair or replace damaged property faster than ordinary timing would allow.

An apportionment clause sets out how several insurers divide a common loss when the same property or liability is covered by more than one policy.

A state-run mechanism that gives drivers with high risk or poor underwriting results access to minimum legally required auto coverage.

Housing and care communities that combine housing, medical support, and long-term care in one insurance-relevant living model.

Dram shop liability insurance protects alcohol-serving businesses against covered claims that their service of alcohol contributed to injury or property damage.

File and use rating laws let insurers put rates into effect after filing them with regulators, without waiting for prior approval.

A severe accidental loss event or cluster of events with unusually high severity for liability or property lines.

A property underwriting construction class indicating higher fire resistance than standard noncombustible construction.

A commercial auto-style form used for businesses such as dealers, repair shops, and service stations that have both liability and garage operations exposures.

Specialized insurance covering aircraft, liability, and related aviation risks.

A broad business liability form that covers many third-party bodily injury, property damage, and related defense exposures.

A source of additional exposure to an insured risk, often linked to but not always physically attached to the main insured property.

A commercial property policy insures a business's buildings, business personal property, and related property interests against covered causes of loss.

A divisible contract clause treats certain property insurance coverages as separately applied so a breach affecting one location or item does not automatically void all coverage.

A contract type that a liability policy agrees to treat as covered for certain assumed tort liability obligations.

Explosion, collapse, and underground damage, often called XCU, are hazardous construction exposures that liability insurers may exclude, restrict, or underwrite carefully.

The maximum total amount an insurer will pay for covered losses during a contract period.

The intentional and malicious setting of fire, with major implications for insurance fraud detection and non-payment defenses.

Business interruption insurance compensates for lost revenue and fixed costs caused by covered business shutdown.

Premium rate that applies to movable personal property coverage under property insurance policies.

The right of an insurer that paid more than its fair share of a covered loss to recover the proper share from another insurer covering the same risk.

A legal doctrine that can bar or sharply limit recovery when the injured person also contributed to the loss.

The scope of losses, people, and conditions an insurance policy is contractually set up to cover.

Insurance coverage for additional costs and business interruption caused by failures in critical data-processing systems.

Demolition insurance covers the cost of removing structures damaged by a covered peril or required by law.

A commercial crime form designed to cover specified losses from employee dishonesty, missing property, and related crime exposures.

Specialized insurance for property damage and related liability arising from an elevator's collision or violent contact event.

Explosion insurance refers to property coverage for loss caused by explosion when that peril is included in the policy or added by endorsement.

A fixed dollar amount the insured must absorb on each covered loss before the insurer pays.

Registered mail insurance covers certain valuables against loss while in transit by registered mail, subject to declared value, documentation, and policy terms.

Broad form cause-of-loss language covers a wider set of named perils in property insurance than a basic form, but is narrower than all-peril or special forms.

Property insurance for computers, related equipment, media, and certain income-loss exposures tied to data-processing operations.

A broad coverage form that combines multiple protected risks in one policy, subject to exclusions and limits.

Coverage for physical damage or liability losses arising from vehicle crashes, often tied to collision or comprehensive property protections.

An extra expense coverage form pays necessary additional costs a business incurs to keep operating or reduce a shutdown after covered property damage.

Broad form personal theft insurance extends named-peril property coverage to include theft-related losses and associated mischief on covered personal property.

An optional auto-rental coverage that waives the renter’s financial responsibility for certain physical damage.

Coverage for physical damage to the insured vehicle caused by a collision or impact.

A property insurance term for ground-shift events such as earthquake, landslide, mudflow, or earth sinking that are often excluded unless specifically covered.

Additional living expense reimburses temporary housing and essential life costs when a covered dwelling is uninhabitable.

An agreed amount clause sets a fixed insured value or settlement approach that all parties accept in advance.

The value assigned by a government authority for tax purposes, which is often different from replacement or market value.

Coverage that protects the insured vehicle itself from accidental, fire, theft, and other non-liability losses.

Occurrence-basis coverage protects against incidents that happen during the policy period, even if a claim is reported later.

A wrongful act that may create financial loss for policyholders and can be a covered peril only under specific insurance terms.

Insurance for crop yield or revenue losses caused by weather, pest, disease, or related agricultural risks.

The expected decline in value of property from wear, age, or obsolescence that affects insurance valuation.

Physical damage or financial damage caused immediately by a peril, before any secondary business effects occur.

Uninsured motorists are drivers who carry no applicable auto liability coverage, creating a claim risk for people they injure.

A premises-liability doctrine where landowners can be liable for hazards that attract children.

A plain-language guide to what auto coverage pays for, how it is rated, and how claims are resolved for vehicles and trailers.

Automatic coverage protects newly acquired or newly valued property for a short period before the policy is formally endorsed.

A property insurance form style that uses a wider named-peril list than a basic policy while remaining narrower than all-peril coverage.

A legacy commercial auto structure that has largely transitioned to modern business auto coverage form language.

A combined package that covers property damage and third-party liability exposures under a coordinated commercial structure.

Casualty insurance covers legal liabilities for accidents that cause bodily injury or property damage to others.

A change in occupancy or use clause requires notice when the purpose or occupancy of insured property changes.

A physical contact event that can trigger auto collision coverage when property rights or liability rules are involved.

Compensatory damages are money awarded to make an injured party whole for actual loss caused by another party's wrongful conduct.

Coverage for risks to buildings and work in progress during the construction phase.

A dependent property that supplies materials, goods, or services to the insured, and whose shutdown can trigger business income coverage if the policy includes that exposure.

A debris removal clause reimburses reasonable cleanup costs after an insured property loss.

Depreciation insurance pays replacement value for damaged property without subtracting wear-and-tear depreciation.

A Difference in Conditions (DIC) endorsement extends coverage by adding protections not fully included in a primary property policy.

A drive other car endorsement extends auto liability and sometimes other coverages to a named individual while using certain non-owned autos.

Dwelling forms are property insurance forms used to insure residential dwellings outside the standard homeowners package, often with different peril and valuation structures.

A form of business interruption coverage designed to replace lost earnings after covered property damage, often written for smaller risks without a coinsurance clause.

A legal right to use another person's land for a specific purpose, which can affect title, property, and liability insurance analysis.

Entry date into claims made refers to the point when an insured first goes onto claims-made coverage, which affects pricing, maturity, and how later claims are evaluated.

The amount of insurance available above a basic or underlying liability limit.

Exhibitions insurance covers property while it is being transported to, displayed at, and returned from a trade show, fair, gallery, or similar exhibition.

A flat charge added to some commercial insurance premiums to help recover fixed policy issuance and servicing costs.

A fire protection rating method used in property insurance to reflect municipal fire defenses and water supply.

First-party auto coverage that pays medical expenses after an accident regardless of fault, up to the policy limit.

Occupancy describes how a building or location is actually used, which directly affects property-insurance underwriting and pricing.

Premises burglary is theft from an insured location involving unlawful entry, typically covered under commercial crime forms when policy conditions are met.

The illegal insurance practice of denying, restricting, or overpricing coverage based on geographic or demographic bias rather than legitimate risk.

A release document used in the recovery process when subrogation rights are preserved, settled, or impaired.

Water damage legal liability coverage protects insureds against some claims made by neighbors or third parties for water-related losses that originate from the insured location.

The wear and tear exclusion removes coverage for losses caused by gradual deterioration, normal use, or aging of insured property.

An abandonment clause prevents policyholders from declaring total loss on property that still has recoverable salvage value.

The maximum total amount payable under a policy for all covered claims within a period.

A payout for minor cosmetic damage so the insured can keep damaged property or parts.

An independent estimate of property value used to set adequate insurance coverage and resolve valuation disputes.

An appraisal clause lets either party request independent valuation when the parties disagree on the amount of a property loss.

An arbitration clause sets a private dispute process for claims disagreements, usually faster than court litigation.

Insurance that pays for third-party bodily injury and property damage when the insured driver is legally liable.

Property insurance for bailees covering property entrusted by others against fire, theft, or accidental damage.

The smallest liability amount an insurance policy can be written for under its terms or underwriting rules.

Property coverage for bridges and bridge-related infrastructure that protects against loss, damage, and outage-related costs.

Broad form storekeepers insurance expands business property coverage by extending to a wider set of storekeeper property exposures, including broader peril descriptions.

The unlawful entry into a building with intent to commit theft or related criminal damage, a key peril in property and business crime coverage.

Burglary insurance covers insured property losses resulting from unlawful entry, theft, or forced opening, depending on policy wording and exclusions.

The modern commercial vehicle policy framework for liability, collision, and physical damage on business autos.

The minimum insured amount required to avoid underinsurance penalty effects.

A reduction in claim payment when insured value is below the required coinsurance threshold.

A policy structure that combines multiple coverages or policy forms into one document.

A single liability limit that applies to all covered bodily-injury and property-damage claims from one accident.