A Claims Made policy offers coverage for claims made against the insured during the policy period. This type of policy typically comes with a reporting requirement defined as “as soon as reasonably practicable.”
What is loss? What is peril? And what is the critical distinction between these terms?
‘Named Perils’ and ‘All Risks’ refer to two different kinds of insurance coverage. Named Perils wordings are common in property insurance policies. You’ll find All Risks wordings in general liability and errors and omissions policies.
A ‘Hammer Clause’ is an insurance policy provision which stipulates what happens when an insured does not consent to settle a claim, as recommended by their insurer. Learn more…
Pro-rata and Short-rate are two different ways of determining the refund amount that an insured party will receive if their insurance policy is canceled before the expiry date. Understand the difference between these two methods.
Learn these tricks and shortcuts, and you can significantly reduce the amount of time it takes to analyze your data and extract what you’re looking for.
‘Prior or Pending Litigation’ and ‘Prior Acts’ exclusions are both policy conditions that reference the time period before the policy begins and specify what the policy won’t cover. Understand the distinction between these terms.
An Extended Reporting Period, or ERP, is a finite window of time beyond the end of a claims-made policy during which the insured organization may report claims to the insurer. The ERP extension only provides …
A Claims Made policy offers coverage for claims made against the insured during the policy period. This type of policy typically comes with a reporting requirement defined as “as soon as reasonably practicable.”
Claims Made vs Claims Made and Reported Read More »
What is loss? What is peril? And what is the critical distinction between these terms?
Understanding the difference between peril and loss Read More »
‘Named Perils’ and ‘All Risks’ refer to two different kinds of insurance coverage. Named Perils wordings are common in property insurance policies. You’ll find All Risks wordings in general liability and errors and omissions policies.
Named Perils vs. All Risks Explained in Plain English Read More »
A ‘Hammer Clause’ is an insurance policy provision which stipulates what happens when an insured does not consent to settle a claim, as recommended by their insurer. Learn more…
Pro-rata and Short-rate are two different ways of determining the refund amount that an insured party will receive if their insurance policy is canceled before the expiry date. Understand the difference between these two methods.
Pro-Rata vs. Short-Rate Cancellation Read More »
Learn these tricks and shortcuts, and you can significantly reduce the amount of time it takes to analyze your data and extract what you’re looking for.
5 Time-Saving MS Excel Shortcuts Every Insurance Professional Should Know Read More »
‘Prior or Pending Litigation’ and ‘Prior Acts’ exclusions are both policy conditions that reference the time period before the policy begins and specify what the policy won’t cover. Understand the distinction between these terms.
Understanding exclusions: ‘Prior or Pending Litigation’ and ‘Prior Acts’ Read More »
An Extended Reporting Period, or ERP, is a finite window of time beyond the end of a claims-made policy during which the insured organization may report claims to the insurer. The ERP extension only provides …
Extended Reporting Period (ERP) Explained Read More »
