{"id":517,"date":"2024-02-23T05:44:07","date_gmt":"2024-02-23T05:44:07","guid":{"rendered":"https:\/\/www.acceptanceinsurance.com\/?page_id=517"},"modified":"2024-06-17T19:57:37","modified_gmt":"2024-06-17T19:57:37","slug":"insurance-glossary","status":"publish","type":"page","link":"https:\/\/www.acceptanceinsurance.com\/insurance-glossary\/","title":{"rendered":"Glossary of Insurance Terms and Definitions"},"content":{"rendered":"<div class=\"c-section c-section--bg-blue-light\" id=\"hero\">\n    <div class=\"o-wrapper o-wrapper--small\">\n        <div class=\"c-section__content\">\n            <div class=\"o-component c-media-block c-media-block--hero\">\n                <div class=\"c-media-block__item\">\n                    <h1 class=\"c-media-block__title c-media-block__title--big\">Insurance Glossary<\/h1>\n                    <div class=\"s-cms-content s-cms-content--big\">\n                        <p>Common Terms and Definitions<\/p>\n                    <\/div>\n                    <div class=\"c-searchbar\">\n                        <div class=\"c-searchbar__form\">\n                            <div class=\"c-searchbar__item\">\n                                <label class=\"c-searchbar__label u-hidden-visually\" id=\"searchGlossaryLabel\" for=\"searchGlossary\"><\/label>\n                                <div id=\"searchGlossary\"><\/div>\n                            <\/div>\n                        <\/div>\n                    <\/div>\n                <\/div>\n                <div class=\"c-media-block__item\">\n                    <picture class=\"c-media-block__pic\">\n                        <source media=\"(min-width: 700px)\" srcset=\"https:\/\/www.acceptanceinsurance.com\/wp-content\/uploads\/2024\/02\/glossary-460x372.webp 1x, https:\/\/www.acceptanceinsurance.com\/wp-content\/uploads\/2024\/02\/glossary.webp 2x\">\n                        <img decoding=\"async\" class=\"c-media-block__img\" loading=\"lazy\" src=\"https:\/\/www.acceptanceinsurance.com\/wp-content\/uploads\/2024\/02\/glossary-1-320x240.webp\" alt=\"\" width=\"320\" height=\"200\" aria-hidden=\"true\" srcset=\"https:\/\/www.acceptanceinsurance.com\/wp-content\/uploads\/2024\/02\/glossary-1.webp 2x\">\n                    <\/picture>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n<div class=\"c-section  \" >\n    <div class=\"o-wrapper o-wrapper--small\">\n        <div class=\"c-section__content\">\n\n\n<p>The following list provides consumers with insurance terms and definitions to help them select coverage and understand policy terms and conditions for all types of insurance.<\/p>\n\n\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div class=\"c-section\">\n    <div class=\"o-wrapper o-wrapper--small\">\n        <div class=\"c-section__content\">\n            <div class=\"o-component c-glossary\">\n                                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">A<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Abandonment\" class=\"c-glossary__title\">Abandonment<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">In property insurance, abandonment refers to the insured&#8217;s restriction from relinquishing damaged property to the insurance company for either repair or disposal.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Accounts%20Receivable%20Coverage%20\" class=\"c-glossary__title\">Accounts Receivable Coverage <\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Safeguards the insured from the unrecoverable loss of amounts owed by customers, which occurred because of damage to records of accounts receivable caused by an insured peril.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Actual%20Cash%20Value%20%28ACV%29\" class=\"c-glossary__title\">Actual Cash Value (ACV)<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The amount it would cost to fix or substitute damaged property with materials that are similar in type and quality, after factoring in depreciation.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Additional%20Insured\" class=\"c-glossary__title\">Additional Insured<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An individual or entity that receives insured status through endorsement arrangements.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Advertising%20Injury\" class=\"c-glossary__title\">Advertising Injury<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage under general liability that protects against claims of libel, slander, invasion of privacy, copyright infringement, and misappropriation of advertising related to the insured&#8217;s promotion of goods or services.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Aggregate\" class=\"c-glossary__title\">Aggregate<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The highest sum an insurance company will reimburse over the policy term.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"All%20Risk%20Coverage\" class=\"c-glossary__title\">All Risk Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance for property that protects against any losses resulting from all possible causes, unless they are specifically excluded.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Application\" class=\"c-glossary__title\">Application<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A document containing the necessary information for an insurance company to evaluate and determine the terms and premium for a specific policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Audit\" class=\"c-glossary__title\">Audit<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An examination of an organization&#8217;s financial records, typically payroll or receipts, conducted to assess exposures and calculate insurance premiums.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Automobile\" class=\"c-glossary__title\">Automobile<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A motorized vehicle designed for transportation on public roads, including cars, trailers, and <a class=\"white-space\">semi-trailers<\/a>, but excluding &#8216;mobile equipment&#8217;.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">B<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Bailee%20Coverage\" class=\"c-glossary__title\">Bailee Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance that covers property entrusted to the insured for purposes such as storage, repair, or servicing.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Basic%20Cause%20of%20Loss%20Form\" class=\"c-glossary__title\">Basic Cause of Loss Form<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance policy that provides coverage for specific perils that are named and defined, including aircraft, civil commotion, explosion, fire, hail, lightning, riot, smoke, sprinkler leakage, sinkhole collapse, vehicles, vandalism, volcanic activity, and windstorm.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Basic%20Limits\" class=\"c-glossary__title\">Basic Limits<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The lowest liability limits that an insured individual can carry for their insurance coverage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Best%27s%20Rating\" class=\"c-glossary__title\">Best&#8217;s Rating<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A system developed by A.M. Best Company to evaluate and assess the financial health and stability of insurance companies.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Binder\" class=\"c-glossary__title\">Binder<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An official contract issued by insurance companies as temporary proof of insurance coverage until a formal policy can be issued.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Bodily%20Injury%20by%20Accident%20Limit\" class=\"c-glossary__title\">Bodily Injury by Accident Limit<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The maximum amount that an insurer is obligated to pay for claims resulting from a single accident, irrespective of the number of employee claims arising from the said accident, as outlined in Part Two of a Workers&#8217; Compensation Policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Bodily%20Injury%20by%20Disease%2C%20Each%20Employee\" class=\"c-glossary__title\">Bodily Injury by Disease, Each Employee<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Maximum coverage limit specified in Part Two of a Workers&#8217; Compensation Policy for damages resulting from a bodily injury by disease sustained by a single employee.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Bodily%20Injury%20by%20%3Ca%20class%3D%22white-space%22%3EDisease-Policy%3C%2Fa%3E%20Limit\" class=\"c-glossary__title\">Bodily Injury by <a class=\"white-space\">Disease-Policy<\/a> Limit<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The upper limit that an insurer will pay for employee bodily injury by disease claims, as stated in Part Two of a Workers&#8217; Compensation Policy, throughout the policy period, regardless of the number of employees who file such claims.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Bodily%20Injury%20Liability%20Limit\" class=\"c-glossary__title\">Bodily Injury Liability Limit<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The highest financial responsibility imposed on the insured for damages resulting from bodily injury, sickness, or disease, including any resulting fatalities, as determined by legal liability.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Boiler%20%26amp%3B%20Machinery%20Insurance\" class=\"c-glossary__title\">Boiler &amp; Machinery Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance that provides coverage for losses resulting from breakdowns in mechanical or electrical equipment, including any damage incurred by the equipment.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Bond\" class=\"c-glossary__title\">Bond<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\"> A contractual agreement in which a surety guarantees the performance or honesty of the principal (obligor) to the third party (obligee) to whom the performance or debt is owed.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Brands%20and%20Labels%20Endorsement\" class=\"c-glossary__title\">Brands and Labels Endorsement<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\"> A type of property insurance coverage that grants the insured permission to remove labels from damaged goods or designate them as &#8216;salvage,&#8217; if the goods remain undamaged during the process.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Broad%20Causes%20of%20Loss%20Form\" class=\"c-glossary__title\">Broad Causes of Loss Form<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A form of property insurance that safeguards against a wide range of perils, including fire, explosion, lightning, windstorm, hail, riot, civil commotion, aircraft, vehicles, vandalism, sprinkler leakage, sinkhole collapse, volcanic action, breakage of building glass, falling objects, weight of snow, ice or sleet, water damage from appliance leakage, and collapse prompted by specified causes.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Building%20Ordinance%20Coverage\" class=\"c-glossary__title\">Building Ordinance Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Protection that safeguards against monetary loss resulting from the enforcement of building ordinances or laws governing the construction and repair of buildings that have sustained damage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Burglary\" class=\"c-glossary__title\">Burglary<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The act of stealing property from a premises through forcible entry, demonstrated by visible signs of entry committed by an individual.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Business%20Auto%20Policy\" class=\"c-glossary__title\">Business Auto Policy<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance policy specifically designed for businesses, offering coverage for both auto liability and physical damage. It differs from personal <a href=\"https:\/\/www.acceptanceinsurance.com\/our-products\/auto-insurance\/\">auto insurance<\/a>  as it caters to the unique needs and risks associated with commercial operations.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Business%20Income%20Coverage\" class=\"c-glossary__title\">Business Income Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance policy that protects against the financial loss a business may experience due to damage to its physical property caused by a covered event. This coverage provides compensation for the loss of income that the business incurs during the period of property restoration or repair.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Business%20Owners%20Policy\" class=\"c-glossary__title\">Business Owners Policy<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A specialized insurance policy for small businesses, providing property and liability coverage. It is part of <a href=\"https:\/\/www.acceptanceinsurance.com\/our-products\/commercial-auto-insurance\/\">commercial insurance<\/a>  that caters to the unique needs of businesses.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">C<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Cancellation\" class=\"c-glossary__title\">Cancellation<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The act of discontinuing an insurance policy prior to its scheduled expiration date.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Care%2C%20Custody%20or%20Control\" class=\"c-glossary__title\">Care, Custody or Control<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">This provision is a exclusion clause within liability insurance policies that restricts coverage for any damages to property under the care, custody, or control of the insured.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Carrier\" class=\"c-glossary__title\">Carrier<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The insurer that offers insurance coverage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Casualty%20Insurance\" class=\"c-glossary__title\">Casualty Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\"> Coverage for losses resulting from injuries to individuals and the insured&#8217;s legal responsibility for injury or property damage caused to others.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Catastrophe\" class=\"c-glossary__title\">Catastrophe<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An extreme event or crisis that leads to significant financial damage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Causes%20of%20Loss%20Forms\" class=\"c-glossary__title\">Causes of Loss Forms<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The forms used in commercial property insurance outlining the specific causes of loss covered by the policy. Typically, there are three (3) different Cause of Loss Forms available Basic, Broad, and Special.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Certificate%20of%20Insurance\" class=\"c-glossary__title\">Certificate of Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An official record that serves as proof of insurance coverage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Claim\" class=\"c-glossary__title\">Claim<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An application made by either the policyholder or the claimant to receive payment based on the terms of an insurance policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Claim%20Expense\" class=\"c-glossary__title\">Claim Expense<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The costs incurred in the process of investigating and settling an insurance claim.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Claimant\" class=\"c-glossary__title\">Claimant<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The individual who submits a claim for insurance coverage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Claims%20Reserve\" class=\"c-glossary__title\">Claims Reserve<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A designated fund reserved to cover reported but unpaid claims.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Class\" class=\"c-glossary__title\">Class<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A classification that identifies a collective of businesses sharing common or similar risks, grouped together to determine insurance rates.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Classification%20\" class=\"c-glossary__title\">Classification <\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Process of organizing or setting up groups or categories for underwriting or rating purposes related to business.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Coinsurance%20Provision%20\" class=\"c-glossary__title\">Coinsurance Provision <\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance clause that requires policyholders to maintain a minimum amount of coverage, typically a specified percentage of the property value, to receive full payment for a covered loss.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Collapse\" class=\"c-glossary__title\">Collapse<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">When a building or personal property collapses due to specific reasons, such as the excessive weight of snow, ice, or rain. Does not apply to collapses caused by design errors or poor craftsmanship or materials after construction is completed.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Collision%20Insurance\" class=\"c-glossary__title\">Collision Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Covers the cost of damage to a covered vehicle caused by a collision with another object while it is in motion.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Commercial%20General%20Liability%20Policy\" class=\"c-glossary__title\">Commercial General Liability Policy<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance that safeguards business entities from liability claims for physical harm and property destruction. These claims can arise from incidents occurring at your business premises, during business operations, or due to the products, services, communications, or advertisements associated with your business.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Competitive%20State%20Funds\" class=\"c-glossary__title\">Competitive State Funds<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Facilities owned and managed by the state, which exclusively provide Workers&#8217; Compensation Insurance within that state.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Completed%20Operations\" class=\"c-glossary__title\">Completed Operations<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A form of General Liability coverage protecting the insured for work finished in locations other than the business premises.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Compulsory%20Insurance\" class=\"c-glossary__title\">Compulsory Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Mandatory coverage that must be obtained as per legal stipulations.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Concealment\" class=\"c-glossary__title\">Concealment<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The act of withholding information that could potentially invalidate an insurance policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Conditions\" class=\"c-glossary__title\">Conditions<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Stipulations within an insurance policy that clearly articulate the respective entitlements and responsibilities of both the insured party and the insurer.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Constructive%20Total%20Loss\" class=\"c-glossary__title\">Constructive Total Loss<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An incidental loss encompassing the depreciation in worth of property arising from a primary loss directly inflicted.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Countersignature\" class=\"c-glossary__title\">Countersignature<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The endorsement of a duly authorized agent or representative, mandated to authenticate the validity of a policy through their signature.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Cumulative%20Injury\" class=\"c-glossary__title\">Cumulative Injury<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An injury category arising from the repetitive execution of tasks over a prolonged duration.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">D<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Data%20Processing%20or%20EDP%20Coverage\" class=\"c-glossary__title\">Data Processing or EDP Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Comprehensive property insurance that safeguards electronic data processing equipment, computer programs, and data against all risks encompassing mechanical failure, electrical damage, and fluctuations in temperature and humidity.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Debris%20Removal\" class=\"c-glossary__title\">Debris Removal<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The expense associated with the elimination of debris from insured property damaged by a covered peril.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Deductible\" class=\"c-glossary__title\">Deductible<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The portion of a loss that is to be borne or absorbed by the policyholder before the insurance company assesses their liability.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Deposit%20Premium\" class=\"c-glossary__title\">Deposit Premium<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The initial payment of premium that is required at the commencement of an insurance policy before the actual premium amount is determined.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Depreciation\" class=\"c-glossary__title\">Depreciation<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The decline in the worth of an asset over time, typically caused by factors such as age, deterioration, or economic obsolescence.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Direct%20Damage\" class=\"c-glossary__title\">Direct Damage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The outcomes of incidents that lead to immediate and straightforward harm to property (without any time lapse or spatial deviation) from the event to the affected property.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Driver%20Other%20Car%20Endorsement\" class=\"c-glossary__title\">Driver Other Car Endorsement<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A supplementary provision that can be included in an automobile insurance policy, offering coverage to the policyholder when operating a vehicle other than the one explicitly specified in the policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Drop%20Down%20Provision\" class=\"c-glossary__title\">Drop Down Provision<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A contractual provision found in Umbrella insurance policies stipulating that the Umbrella coverage will &#8220;drop down&#8221; to provide additional protection when the aggregate limits of the underlying policies have been diminished or depleted.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">E<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Earned%20Premium\" class=\"c-glossary__title\">Earned Premium<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The portion of the insurance premium that has been recognized as income based on the elapsed time within a specified period.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Earth%20Movement%20or%20Earthquake%20Exclusion\" class=\"c-glossary__title\">Earth Movement or Earthquake Exclusion<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A provision commonly included in property or <a href=\"https:\/\/www.acceptanceinsurance.com\/our-products\/homeowners-insurance\/\">homeowners insurance<\/a>  policies that excludes coverage for damages caused by earth movement or earthquakes, apart from resulting fires.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Effective%20Date\" class=\"c-glossary__title\">Effective Date<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The designated date when an insurance binder or policy becomes operative and provides coverage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Electrical%20Damage%20or%20Injury%20Exclusion\" class=\"c-glossary__title\">Electrical Damage or Injury Exclusion<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A provision commonly found in property insurance policies excludes coverage for harm or damage caused to electrical appliances by artificially generated currents, except resulting fire or explosion.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Employee%20Dishonesty%20Coverage\" class=\"c-glossary__title\">Employee Dishonesty Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance protection against the theft of money, securities, or property by an employee.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Employee%20Leasing\" class=\"c-glossary__title\">Employee Leasing<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A workforce arrangement in which an employee leasing company supplies a significant portion or all the employees for a client.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Employers%20Excess%20Indemnity%20Insurance\" class=\"c-glossary__title\">Employers Excess Indemnity Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance protection acquired by employers who opt out of the Texas Workers&#8217; Compensation law.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Employers%20Liability%20Coverage\" class=\"c-glossary__title\">Employers Liability Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The second part of a Workers&#8217; Compensation policy that covers the employer&#8217;s legal obligations to pay for bodily injury, whether by accident or disease, suffered by an employee while working for the insured, within the scope of their employment.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Employment%20Practices%20Liability%20Insurance\" class=\"c-glossary__title\">Employment Practices Liability Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A type of insurance that provides coverage for legal claims related to wrongful acts stemming from employment practices, including wrongful termination, discrimination, and sexual harassment.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Endorsement\" class=\"c-glossary__title\">Endorsement<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An additional document affixed to an insurance policy, modifying the original provisions of the policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Equipment%20Floater\" class=\"c-glossary__title\">Equipment Floater<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A type of property insurance that provides coverage for equipment frequently transported or relocated to distinct locations.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Estimated%20Premium\" class=\"c-glossary__title\">Estimated Premium<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An initial amount of premium that is subject to adjustment depending on the variation in exposures.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Excess%20and%20Surplus%20Lines%20Insurance\" class=\"c-glossary__title\">Excess and Surplus Lines Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage offered by insurers who are not authorized to operate in the state where the risk is located.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Excess%20Liability%20Policy\" class=\"c-glossary__title\">Excess Liability Policy<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance policy that offers supplementary limits beyond the coverage limits of an underlying liability policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Exclusion\" class=\"c-glossary__title\">Exclusion<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An occurrence or risk not included in the scope of coverage provided by the policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Expected%20or%20Intended\" class=\"c-glossary__title\">Expected or Intended<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An exclusion that applies to injuries or damages that are anticipated or deliberately caused.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Expediting%20Expense%20Coverage\" class=\"c-glossary__title\">Expediting Expense Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage offers compensation for expenses related to temporary repairs and incurred costs to expedite the permanent repair or replacement of insured property or equipment.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Expense%20Constant\" class=\"c-glossary__title\">Expense Constant<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A nominal and fixed charge applied to Workers&#8217; Compensation policies.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Experience%20Modifier\" class=\"c-glossary__title\">Experience Modifier<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A factor applied to an insurance premium, either increasing it (debit) or reducing it (credit), that is calculated based on the insured&#8217;s historical loss experience compared to the expected or actual experience for the business.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Expiration\" class=\"c-glossary__title\">Expiration<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The termination date of an insurance policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Exposure%20Base\" class=\"c-glossary__title\">Exposure Base<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The foundation upon which rates are calculated to determine the premium. Various exposures may be assessed using metrics such as payroll, receipts, sales, square footage, area, <a class=\"white-space\">person-hours<\/a>, or per unit.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Extra%20Expense%20Coverage\" class=\"c-glossary__title\">Extra Expense Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance coverage that provides reimbursement for expenses exceeding regular operating costs, which are incurred to maintain business operations after a direct damage loss.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Extraterritorial%20Coverage\" class=\"c-glossary__title\">Extraterritorial Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The provision of workers&#8217; compensation insurance that extends benefits to employees hired in one state but injured while working in another state.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">F<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Fiduciary%20Liability\" class=\"c-glossary__title\">Fiduciary Liability<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The responsibility imposed on trustees, employers, fiduciaries, and professional administrators for any errors or omissions in the management of employee benefit programs.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Fire%20Department%20Service%20Charge%20Coverage\" class=\"c-glossary__title\">Fire Department Service Charge Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage included in a property insurance policy to reimburse the insured for charges incurred from a fire department for their firefighting services.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Fire%20Legal%20Liability%20Coverage\" class=\"c-glossary__title\">Fire Legal Liability Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Liability coverage that protects the insured against legal liability for fire damage to premises rented by the insured.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Fire%20Wall\" class=\"c-glossary__title\">Fire Wall<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A wall designed to restrict fire from spreading from one area of a building to another.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Firewall\" class=\"c-glossary__title\">Firewall<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A technological system that safeguards a company&#8217;s internal network from unauthorized access by external internet users.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Flat%20Cancellation\" class=\"c-glossary__title\">Flat Cancellation<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The complete termination of an insurance policy as of the date it becomes effective, necessitating a full refund of the premium paid.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Flood%20Coverage\" class=\"c-glossary__title\">Flood Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage that protects against property damage caused by a flood.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Flood%20Exclusion\" class=\"c-glossary__title\">Flood Exclusion<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A clause commonly found in property insurance policies that excludes coverage for damage resulting from floods and potentially other types of water damage, such as seepage and sewer backup.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Follow%20Form\" class=\"c-glossary__title\">Follow Form<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A provision in an umbrella policy that mirrors the coverages and policy terms of the underlying policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Forgery%20or%20Alteration%20Coverage\" class=\"c-glossary__title\">Forgery or Alteration Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage that protects against losses resulting from forged or altered documents or instruments.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Fortuitous%20Event\" class=\"c-glossary__title\">Fortuitous Event<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An occurrence that happens by chance, without any indication of suddenness.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Frequency\" class=\"c-glossary__title\">Frequency<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The rate or number of occurrences of a loss within a specific period.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Full%20Coverage\" class=\"c-glossary__title\">Full Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance policy that provides complete reimbursement for all losses caused by the insured perils, without deductibles or depreciation being applied.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">G<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Garage%20Liability%20Insurance\" class=\"c-glossary__title\">Garage Liability Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance protection that covers the legal liability of automobile dealers, garages, repair shops, and service stations for injuries and property damage arising from their business activities.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Garage%20Keepers%20Coverage\" class=\"c-glossary__title\">Garage Keepers Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance coverage designed for owners of storage garages, parking lots, and body and repair shops, protecting them from liability for damage to vehicles left in their custody for storage or repairs.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"General%20Aggregate%20Limit\" class=\"c-glossary__title\">General Aggregate Limit<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The maximum coverage amounts available for losses, excluding those arising from <a class=\"white-space\">product-related<\/a> or completed operations hazards, as covered under a standard commercial general liability policy, during the policy period.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"General%20Liability%20Insurance\" class=\"c-glossary__title\">General Liability Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance coverage that safeguards businesses against various liability risks, excluding automobile and professional liabilities.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Glass%20Insurance\" class=\"c-glossary__title\">Glass Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A specific property insurance policy that provides coverage for any breakage of building glass, regardless of the cause.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Governing%20Classification\" class=\"c-glossary__title\">Governing Classification<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">In Workers&#8217; Compensation Insurance, this classification accurately describes the workers&#8217; compensation exposure associated with the employer&#8217;s business.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Gross%20Negligence\" class=\"c-glossary__title\">Gross Negligence<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The deliberate and reckless disregard for the duty of care.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Gross%20Vehicle%20Weight%20%28GVW%29\" class=\"c-glossary__title\">Gross Vehicle Weight (GVW)<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The maximum total weight of a single vehicle, as designated by the manufacturer, when fully loaded.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">H<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Hired%20Automobile\" class=\"c-glossary__title\">Hired Automobile<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A vehicle that is temporarily provided to someone else for a fee or other compensation. However, the business auto definition of &#8216;hired autos&#8217; includes borrowed vehicles, except for those borrowed from employees or partners.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Hold%20Harmless%20Agreement\" class=\"c-glossary__title\">Hold Harmless Agreement<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A legally binding contract that necessitates one party to accept specific legal liabilities of the other party.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Host%20Liquor%20Liability\" class=\"c-glossary__title\">Host Liquor Liability<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Liability coverage for individuals hosting business or social events that arise from the serving or distribution of alcoholic beverages by a party that is not involved in this activity as a business enterprise.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">I<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Improvements%20and%20Betterments\" class=\"c-glossary__title\">Improvements and Betterments<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Additions or alterations made by a lessee, at their own expense, to a property that cannot legally be withdrawn. It is usually included in tenants&#8217; property coverage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Incurred%20Losses\" class=\"c-glossary__title\">Incurred Losses<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The amount of payment made for claims and loss reserves within a specific policy year. It is typically calculated as total losses during the period&#8217;s duration, excluding outstanding losses at the beginning of the period and outstanding losses by the end of that period.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Independent%20Adjuster\" class=\"c-glossary__title\">Independent Adjuster<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A claims adjuster who provides adjustment services to insurance companies but is not their employee.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Independent%20Contractor\" class=\"c-glossary__title\">Independent Contractor<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An individual or company that agrees in writing with another party to complete a job or function on their behalf.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Inflation%20Guard%20Provision\" class=\"c-glossary__title\">Inflation Guard Provision<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A policy provision that increases the insurance limit by a defined percentage over a particular period to account for inflationary costs.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Insurance%20to%20Value\" class=\"c-glossary__title\">Insurance to Value<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance coverage that equals the property value or satisfies coinsurance requirements.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Insurer\" class=\"c-glossary__title\">Insurer<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance company that offers insurance coverage and other services related to insurance.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">J<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Joint%20Venture\" class=\"c-glossary__title\">Joint Venture<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A business association whereby two or more individuals merge their labor or assets for a commercial effort and divide profits.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">L<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Lapse\" class=\"c-glossary__title\">Lapse<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The cancellation of an insurance policy resulting from the <a class=\"white-space\">non-payment<\/a> of the premium.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Leasehold%20Interest\" class=\"c-glossary__title\">Leasehold Interest<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance that protects a tenant from losses incurred due to the termination of a lease caused by damage to the leased property from a covered peril.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Lessee\" class=\"c-glossary__title\">Lessee<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The individual or entity who is granted a lease.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Lessor\" class=\"c-glossary__title\">Lessor<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The individual or entity who grants the lease.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Liability\" class=\"c-glossary__title\">Liability<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The legal responsibility to provide financial compensation for harm or loss resulting from negligent or prohibited actions.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Liberalization%20Clause\" class=\"c-glossary__title\">Liberalization Clause<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A policy provision that expands the coverage if the insurer introduces a broader coverage form within the initial 45 days of the policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Lien\" class=\"c-glossary__title\">Lien<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An encumbrance that can be held by an individual with a vested interest in a specific matter or property.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Limit%20of%20Liability\" class=\"c-glossary__title\">Limit of Liability<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The maximum amount an insurance company commits to pay in case of a loss.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Longshore%20and%20Harbor%20Workers%27%20Compensation%20Act\" class=\"c-glossary__title\">Longshore and Harbor Workers&#8217; Compensation Act<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A federal statute that grants workers&#8217; compensation benefits to employees of a ship who sustain injuries while engaged in maritime work, typically during activities such as loading, unloading, repairing, or constructing a vessel. However, it does not apply to crew members.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Loss\" class=\"c-glossary__title\">Loss<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The monetary sum that an insurance company disburses to cover damages in accordance with the provisions outlined in a policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Loss%20Adjustment%20Expense\" class=\"c-glossary__title\">Loss Adjustment Expense<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The cost associated with evaluating and managing a specific insurance claim, including investigation and adjustment expenses.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Loss%20Constant\" class=\"c-glossary__title\">Loss Constant<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A fixed fee included in the premium of small workers&#8217; compensation policies to mitigate higher loss ratios.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Loss%20Control\" class=\"c-glossary__title\">Loss Control<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A strategic method implemented to minimize the likelihood of a loss or to mitigate the severity of losses that may occur.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Loss%20Payable%20Clause\" class=\"c-glossary__title\">Loss Payable Clause<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance provision that allows for loss payments to be made to an individual or entity with an insurable interest in the property covered by the policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Loss%20Ratio\" class=\"c-glossary__title\">Loss Ratio<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The proportion of losses incurred compared to premiums earned , expressed as a percentage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Loss%20Report\" class=\"c-glossary__title\">Loss Report<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A documentation that displays reported claims and contains pertinent details including the occurrence date, nature of claim, payment amount, and allocated reserve for each individual loss.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Loss%20Reserve\" class=\"c-glossary__title\">Loss Reserve<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A projected sum reserved specifically for an individual claim that remains outstanding until it is settled.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Lost%20Policy%20Release\" class=\"c-glossary__title\">Lost Policy Release<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A signed statement that allows the insured to cancel a policy when they have lost or misplaced it, absolving the insurance company from any liability or losses.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">M<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Medical%20Payments%2C%20Auto\" class=\"c-glossary__title\">Medical Payments, Auto<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An optional coverage offered under an auto policy that pays for medical expenses resulting from bodily injury in an auto accident, regardless of fault. This coverage typically applies to the named insured and their family members when they are occupants of the insured vehicle.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Medical%20Payments%2C%20General%20Liability\" class=\"c-glossary__title\">Medical Payments, General Liability<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A general liability coverage that provides reimbursement for medical or funeral expenses, regardless of fault, arising from bodily injury or death caused by an accident.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Mexico%20Coverage\" class=\"c-glossary__title\">Mexico Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage sometimes included in automobile policies that allows for the operation of an insured vehicle within Mexico, often limited to a specified distance from the U.S. border.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Minimum%20Premium\" class=\"c-glossary__title\">Minimum Premium<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The lowest premium amount charged for specific insurance coverage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Misrepresentation\" class=\"c-glossary__title\">Misrepresentation<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A deliberate and significant false or deceptive statement, whether made directly or indirectlycan result in the insurance contract being voided by the insurer.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Mobile%20Equipment\" class=\"c-glossary__title\">Mobile Equipment<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\"><a class=\"white-space\">Non-automobile<\/a> equipment, such as earthmovers, tractors, diggers, farm machinery, forklifts, etc., that, even if <a class=\"white-space\">self-propelled<\/a>, does not fall under the category of automobiles for insurance purposes.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Monopolistic%20State%20Funds\" class=\"c-glossary__title\">Monopolistic State Funds<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">States or jurisdictions where employers are required to obtain workers&#8217; compensation insurance from a state fund or meet specific criteria to be <a class=\"white-space\">self-insured<\/a>; currently applicable in North Dakota, Ohio, Washington, West Virginia, Wyoming, Puerto Rico, and the U.S. Virgin Islands.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Mortgage%20Clause\" class=\"c-glossary__title\">Mortgage Clause<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Provisions within property insurance that provide protection to the mortgagee named in the policy. This clause establishes that loss to the mortgaged property is payable to both the insured and the mortgagee named in the policy.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">N<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Named%20Perils%20Coverage\" class=\"c-glossary__title\">Named Perils Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A term used in property insurance refers to specific causes of loss explicitly listed as covered.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"National%20Flood%20Insurance%20Program\" class=\"c-glossary__title\">National Flood Insurance Program<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A program funded by the federal government to provide flood insurance to properties in participating communities.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Non%20admitted%20Insurer\" class=\"c-glossary__title\">Non admitted Insurer<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance company that lacks the necessary license to conduct business in a particular state. These insurers may offer coverage through an excess and surplus lines broker who holds the required licenses in those jurisdictions.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Non%20owned%20Automobile\" class=\"c-glossary__title\">Non owned Automobile<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">This coverage applies to vehicles used for the named insured&#8217;s business but are not owned, leased, hired, rented, or borrowed. The term specifically pertains to vehicles owned by employees and used for <a class=\"white-space\">company-related<\/a> purposes.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"%3Ca%20class%3D%22white-space%22%3ENon-subscription%3C%2Fa%3E\" class=\"c-glossary__title\"><a class=\"white-space\">Non-subscription<\/a><\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A term in the realm of Workers&#8217; Compensation specifically used in Texas, denoting employers who opt to exclude themselves from the workers&#8217; compensation system. If these <a class=\"white-space\">non-subscribing<\/a> employers are found to be negligent in causing an employee&#8217;s injury, they can be held legally responsible under tort law, as they have waived the customary common law defenses typically available to employers that fall under workers&#8217; compensation laws.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">O<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Occupational%20Disease\" class=\"c-glossary__title\">Occupational Disease<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A medical condition or disorder arises from being exposed to environmental factors associated with one&#8217;s occupation. This encompasses both acute and chronic illnesses or diseases that can be caused by inhalation, absorption, ingestion, or direct contact.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Occupational%20Injury\" class=\"c-glossary__title\">Occupational Injury<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An injury that occurs during employment and is directly caused by factors associated with the work being performed.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Occurrence\" class=\"c-glossary__title\">Occurrence<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Refers to a continuous, gradual, or recurring exposure to generally harmful conditions. Liability policies provide coverage for bodily injury or property damage resulting from an occurrence.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">P<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Package%20Policy\" class=\"c-glossary__title\">Package Policy<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A comprehensive insurance policy that consolidates multiple coverages into a single policy. Specifically pertains to a policy that includes both general liability insurance and property insurance.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Payroll%20Limitation\" class=\"c-glossary__title\">Payroll Limitation<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A restriction on the amount of payroll considered when calculating premiums for specific classifications.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Peril\" class=\"c-glossary__title\">Peril<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An event or circumstance that causes a loss, such as fire, windstorm, collision, and so forth.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Personal%20Auto%20Policy%20%28PAP%29\" class=\"c-glossary__title\">Personal Auto Policy (PAP)<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance policy that provides coverage for <a class=\"white-space\">privately-owned<\/a> passenger vehicles belonging to individuals.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Personal%20Injury\" class=\"c-glossary__title\">Personal Injury<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A form of General Liability coverage that applies to insurable offenses resulting in harm, excluding bodily injury. This encompasses offenses such as false arrest, detention or imprisonment, malicious prosecution, wrongful eviction, slander, libel, and invasion of privacy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Personal%20Injury%20Protection%20%28PIP%29\" class=\"c-glossary__title\">Personal Injury Protection (PIP)<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Mandatory insurance coverage prescribed by law in certain states. These statutes generally require insurers to provide or offer first-party benefits for medical expenses, loss of income, funeral expenses, and related costs, regardless of fault.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Personal%20Property\" class=\"c-glossary__title\">Personal Property<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Refers to all tangible property that is not categorized as real property, including contents.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Policy%20Fee\" class=\"c-glossary__title\">Policy Fee<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A <a class=\"white-space\">non-variable<\/a> fee assessed per policy that remains constant regardless of the premium amount.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Policy%20Period\" class=\"c-glossary__title\">Policy Period<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The specified term or duration of an insurance policy, encompassing both the effective date and the expiration date.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Pollutant\" class=\"c-glossary__title\">Pollutant<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An irritant or contaminant, whether in the form of solids, liquids, or gases, such as smoke, vapor, soot, fumes, acids, alkalis, chemicals, and waste.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Premises\" class=\"c-glossary__title\">Premises<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The physical location to which insurance coverage applies.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"%3Ca%20class%3D%22white-space%22%3EPremises-Operations%3C%2Fa%3E\" class=\"c-glossary__title\"><a class=\"white-space\">Premises-Operations<\/a><\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Refers to a hazard category typically covered by a general liability policy. It encompasses the risks that are not included in the defined &#8216;products-completed operations hazard.&#8217; This includes the liability for injury or damage that arises from the insured&#8217;s premises or ongoing business operations.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Premium\" class=\"c-glossary__title\">Premium<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The monetary sum that an insurance company requires to offer coverage through a policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Pro%20Rata%20Cancellation\" class=\"c-glossary__title\">Pro Rata Cancellation<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The termination of an insurance policy with the reimbursement of the entire proportion of the premium for the remaining term of the policy, devoid of any penalties for terminating it ahead of schedule.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Product\" class=\"c-glossary__title\">Product<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An item produced, sold, handled, distributed, or disposed of by the named insured or other parties involved with them during their business. This includes containers, parts and equipment, product warranties, and the provision or failure to provide instructions and warnings.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Product%20Liability\" class=\"c-glossary__title\">Product Liability<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The responsibility for bodily injury or property damage that a merchant or manufacturer may assume due to a flaw in the product they sell or manufacture.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"%3Ca%20class%3D%22white-space%22%3EProducts-Completed%3C%2Fa%3E%20Operations\" class=\"c-glossary__title\"><a class=\"white-space\">Products-Completed<\/a> Operations<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A General Liability insurance that covers the liability arising from the insured&#8217;s products or business operations even when conducted outside the insured&#8217;s premises once those operations have been concluded.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Professional%20Liability\" class=\"c-glossary__title\">Professional Liability<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">This insurance coverage is designed to provide protection for professionals, including physicians and real estate brokers, against liability incurred due to errors and omissions while delivering professional services.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Property%20Damage\" class=\"c-glossary__title\">Property Damage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">In the General Liability policy, property damage is the physical injury that property sustains, resulting in the loss of its use.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Property%20Insurance\" class=\"c-glossary__title\">Property Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance policy that provides <a class=\"white-space\">first-party<\/a> coverage to protect real and personal property against physical loss or damage.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Property%20Insurance%20for%20Works%20of%20Art\" class=\"c-glossary__title\">Property Insurance for Works of Art<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage extending the protection of workers&#8217; compensation laws to offer benefits for workers who are hired in one state but sustain injuries while performing work duties in another state.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">R<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Real%20Property\" class=\"c-glossary__title\">Real Property<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Land, buildings, and vegetation that collectively constitute real estate.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Renewal%20Policy\" class=\"c-glossary__title\">Renewal Policy<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An issued policy that serves as a replacement for a policy that is about to expire.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Rents%20or%20Rental%20Value%20Insurance\" class=\"c-glossary__title\">Rents or Rental Value Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage that compensates a building owner for the loss of rental income resulting from damage caused by a covered peril.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Replacement%20Cost%20Coverage%20Endorsement\" class=\"c-glossary__title\">Replacement Cost Coverage Endorsement<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An endorsement in property insurance that modifies the valuation of the insured property to its replacement cost, without factoring in any deduction for depreciation.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Return%20Premium\" class=\"c-glossary__title\">Return Premium<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The reimbursement of premium to the insured if the actual cost of a policy is lower than what the insured has previously paid.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Robbery\" class=\"c-glossary__title\">Robbery<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The act of stealing property through the use or threat of force.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">S<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"%3Ca%20class%3D%22white-space%22%3EShort-Term%3C%2Fa%3E%20Cancellation\" class=\"c-glossary__title\"><a class=\"white-space\">Short-Term<\/a> Cancellation<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The act of terminating an insurance policy before its scheduled expiration date, wherein a penalty in the form of a partial <a class=\"white-space\">pro-rata<\/a> premium refund may be allowed.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Special%20Causes%20of%20Loss%20Form\" class=\"c-glossary__title\">Special Causes of Loss Form<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A form that provides insurance coverage for all causes of loss unless they are explicitly excluded or limited.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Specified%20Causes%20of%20Loss%20Coverage\" class=\"c-glossary__title\">Specified Causes of Loss Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage for physical damage to an automobile, limited to losses caused by the perils specifically listed in the policy.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Sprinkler%20Leakage%20Coverage\" class=\"c-glossary__title\">Sprinkler Leakage Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Coverage that protects against property damage resulting from the accidental release or leakage of water from automatic sprinkler systems or other fire prevention devices.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Surplus%20Lines%20Insurance\" class=\"c-glossary__title\">Surplus Lines Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance policies provided by insurers not licensed in the states where the risks are located. These policies are placed with such insurers under the surplus line laws of the respective states. Before such placements can be made through licensed surplus line agents and brokers, state laws usually require evidence to be reported before a specified future date (commonly referred to as &#8216;sunset&#8217;).<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">T<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Time%20Element%20Insurance\" class=\"c-glossary__title\">Time Element Insurance<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage that pertains to property and provides compensation for lost earnings or income due to the inability to use damaged property in its normal capacity.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Transit%20Coverage\" class=\"c-glossary__title\">Transit Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Coverage that protects the insured&#8217;s property during transportation from one location to another, specifically over land.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">U<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Umbrella%20Liability%20Policy\" class=\"c-glossary__title\">Umbrella Liability Policy<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">An insurance policy specially designed to offer supplementary protection against severe losses covered by liability policies. These policies include business auto policies, commercial general liability policies, watercraft and aircraft liability policies, and employers&#8217; liability coverage. The umbrella policy provides excess limits after the limits of the underlying liability policies are exhausted due to claims payment. Additionally, it offers coverage for claims not covered by the underlying policies, subject to <a class=\"white-space\">self-insured<\/a> retention.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Underinsured%20Motorists%20Coverage\" class=\"c-glossary__title\">Underinsured Motorists Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A type of insurance coverage that protects against bodily injury, and in certain jurisdictions property damage, resulting from accidents caused by drivers who possess insufficient insurance coverage limits.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Underlying%20Coverage\" class=\"c-glossary__title\">Underlying Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Refers to the primary insurance or coverage activated and responsible for addressing a loss before the excess policy is required to contribute any portion of the claim.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Underwriter\" class=\"c-glossary__title\">Underwriter<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The individual responsible for assessing an applicant&#8217;s eligibility for insurance coverage and determining the corresponding premium amount.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Unearned%20Premium\" class=\"c-glossary__title\">Unearned Premium<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The portion of the insurance premium represents the remaining policy term&#8217;s remaining duration that has not yet expired.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Uninsured%20Motorist%20Coverage\" class=\"c-glossary__title\">Uninsured Motorist Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Refers to the insurance coverage that offers protection for bodily injury and in certain jurisdictions property damage when an insured individual experiences loss from an accident caused by a motorist who does not have insurance.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Utility%20Service%20Interruption%20Coverage\" class=\"c-glossary__title\">Utility Service Interruption Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Denotes the insurance coverage that safeguards against the financial loss endured by an insured party due to the absence of incoming electricity caused by damage to a distant property, typically the utility generating station, resulting from a covered cause of loss such as a fire or windstorm. This coverage is also commonly known as &#8216;<a class=\"white-space\">off-premises<\/a> power coverage&#8217;.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">V<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Vacancy%20Provision\" class=\"c-glossary__title\">Vacancy Provision<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">A provision in commercial property insurance policies that limits coverage for buildings that have been unoccupied for a designated period, typically 60 days.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Valuable%20Papers%20and%20Records%20Coverage\" class=\"c-glossary__title\">Valuable Papers and Records Coverage<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">Insurance coverage that reimburses the expenses involved in reconstructing valuable papers and records that have been damaged or destroyed. This coverage typically encompasses various forms of printed documents and records, excluding currency or securities. Data processing programs, data, and media are typically not included.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                            <div class=\"c-glossary__letters\">\n                            <div class=\"c-glossary__letter-wrapper\">\n                                <div class=\"c-glossary__letter\">W<\/div>\n                            <\/div>\n                            <ul class=\"o-list-bare c-glossary__list\">\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Waiver%20of%20Subrogation\" class=\"c-glossary__title\">Waiver of Subrogation<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">The term refers to an insurer giving up the right to seek reimbursement from another party for the damages paid on the insured&#8217;s behalf. It is also commonly known as &#8216;transfer of rights of recovery&#8217;.<\/div>\n                                <\/li>\n                                                                <li class=\"o-list-bare__item c-glossary__item\">\n                                    \n                                    <h2 id=\"Workers%27%20Compensation\" class=\"c-glossary__title\">Workers&#8217; Compensation<\/h2>\n                                    <div class=\"c-glossary__text s-cms-content\">This refers to the insurance coverage that benefits employees who suffer injuries or contract diseases in their employment. Many states have regulations that mandate employers provide this protection to workers and specify the duration and extent of benefits provided.<\/div>\n                                <\/li>\n                                                            <\/ul>\n                        <\/div>\n                                                    \n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The following list provides consumers with insurance terms and definitions to help them select coverage and understand policy terms and conditions for all types of insurance.<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"acf":[],"_links":{"self":[{"href":"https:\/\/www.acceptanceinsurance.com\/wp-json\/wp\/v2\/pages\/517"}],"collection":[{"href":"https:\/\/www.acceptanceinsurance.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.acceptanceinsurance.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.acceptanceinsurance.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.acceptanceinsurance.com\/wp-json\/wp\/v2\/comments?post=517"}],"version-history":[{"count":60,"href":"https:\/\/www.acceptanceinsurance.com\/wp-json\/wp\/v2\/pages\/517\/revisions"}],"predecessor-version":[{"id":8265,"href":"https:\/\/www.acceptanceinsurance.com\/wp-json\/wp\/v2\/pages\/517\/revisions\/8265"}],"wp:attachment":[{"href":"https:\/\/www.acceptanceinsurance.com\/wp-json\/wp\/v2\/media?parent=517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}