Definition and meaning of Nuclear Energy Contamination :

Nuclear Energy Contamination: See Mutual Atomic Energy Reinsurance Pool and Radioactive Contamination Insurance. (LA,PR)

(Source: InsWeb)

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Definition and meaning of Officers and Directors Liability Insurance :

Officers and Directors Liability Insurance: A type of insurance which protects the officers and directors of a corporation against damages resulting from negligent or wrongful acts which may harm the corporation or its stockholders. (LA)

(Source: InsWeb)

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Definition and meaning of Owners and Contractors Protective Liability Policy :

Owners and Contractors Protective Liability Policy: A policy which protects an insured against losses caused by the negligence of a contractor or subcontractor that he hires. Also sometimes referred to as Independent Contractors Insurance. (LA)

(Source: InsWeb)

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Definition and meaning of Owners, Landlords, and Tenants Liability Insurance, OL&T :

Owners, Landlords, and Tenants Liability Insurance (OL&T): Coverage for an insured against legal liability for bodily injury or property damage caused to others by negligence and arising out of the ownership, maintenance, or use of the premises designated in the policy and all operations necessary or incidental to those premises. A form of Premises and Operations Liability Insurance designed to cover premises where the public is invited. The OL&T form has largely been replaced by the Commercial General Liability Coverage Form. (LA)

(Source: InsWeb)

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Definition and meaning of Occurrence Coverage :

Occurrence Coverage: A policy form providing liability coverage only for injury or damage that occurs during the policy period, regardless of when the claim is actually made. For example, a claim made in the current policy year could be charged against a prior policy period, or may not be covered, if it arises from an occurrence prior to the effective date. Contrast with Claims-Made Coverage. (LA)

(Source: InsWeb)

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Definition and meaning of Malpractice Insurance :

Malpractice Insurance: Insurance on a professional practitioner that will (1) defend suits instituted against him for malpractice, and/or (2) pay any damages set by a court, subject to policy limits. (LA)

(Source: InsWeb)

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Definition and meaning of NELIA :

NELIA: Nuclear Energy Liability Insurance Association. (LA)

(Source: InsWeb)

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Definition and meaning of NOC. Not Otherwise Classified :

NOC. Not Otherwise Classified: A term often found in the classification section of Liability or Workers Compensation rating manuals. If a listing is followed by an NOC, it means to use this classification if an insured cannot be classified more specifically. (LA,WC)

(Source: InsWeb)

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Definition and meaning of Not Otherwise Classified :

Not Otherwise Classified: See NOC. (LA,WC)

(Source: InsWeb)

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Definition and meaning of Mutual Atomic Energy Reinsurance Pool :

Mutual Atomic Energy Reinsurance Pool: A group of mutual insurance companies which reinsure Liability policies written on private nuclear energy reactors. Most insurance contracts exclude this coverage, and it can usually only be provided by a pool. See also Radioactive Contamination Insurance. (LA)

(Source: InsWeb)

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Definition and meaning of Limit of Liability :

Limit of Liability: The maximum amount for which an insurer is liable as set forth in the contract. (LA)

(Source: InsWeb)

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Definition and meaning of Interest, Pre-Judgment :

Interest, Pre-Judgment: Money the plaintiff would have earned if the favorable judgment had been paid at the time of injury or damage, instead of at a later date when a judgment is made. (LA)

(Source: InsWeb)

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Definition and meaning of Joint Liability :

Joint Liability: Liability which rests upon more than one person.(LA)

(Source: InsWeb)

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Definition and meaning of Landlords Protective Liability :

Landlords Protective Liability: Coverage provided to the owner of property who leases the entire premises to another. This c is very reasonable because the full control of the premises rests with the lease. (LA)

(Source: InsWeb)

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Definition and meaning of Laser Beam Endorsement :

Laser Beam Endorsement: An endorsement to a "claims made" liability form used to exclude specific accidents, produc or locations. It earned its nickname because it allows an insurer to zero in with a sharp focus to exc specific exposures. (LA)

(Source: InsWeb)

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Definition and meaning of Interest, Post-Judgment :

Interest, Post-Judgment: Money the plaintiff would have earned if the favorable judgment had been paid at the time of the first judgment, instead of at a later date due to an appeal. (LA)

(Source: InsWeb)

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Definition and meaning of Insured Contract :

Insured Contract: A definition which shapes the extent of contractual liability coverage by describing the types of contracts which are insured. On modern liability forms, "insured contract" includes leases of premises, sidetrack agreements, elevator maintenance agreements, easement agreements, and other agreements related to the insured's business. (LA)

(Source: InsWeb)

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Definition and meaning of Impaired Property :

Impaired Property: Tangible property which cannot be used or has become less useful because it incorporates the insured's product or work which is defective or inadequate, or because the insured has failed to fulfill a contractual obligation. (LA)

(Source: InsWeb)

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Definition and meaning of Independent Contractors Insurance :

Independent Contractors Insurance: See Owners and Contractors Protective Liability Policy. (LA)

(Source: InsWeb)

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Definition and meaning of Innkeepers Legal Liability :

Innkeepers Legal Liability: A coverage for motel and hotel operators, protecting them against the legal liability they have for the safekeeping of the property of guests. The policy usually has a limit per guest and an aggregate limit per policy year. (LA)

(Source: InsWeb)

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Definition and meaning of Legal Expense Insurance :

Legal Expense Insurance: A group form of insurance which provides members with legal services paid for on a schedule. Similar to Dental Insurance. (LA)

(Source: InsWeb)

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