| Term | Definition |
| Additional insured | An entity other than the named insured that is covered under the terms of the contract and shares in the limits of liability available. |
| Aggregate Limit | The maximum amount of coverage for a specific period of time, usually the term of the contract, no matter the number of incidents. |
| Any occupation, definition of disability | The inability to perform the duties of any occupation you are suited for by age, education or training due to a medically determinable physical or mental impairment. |
| Benefit bank | Any unused portion of the office overhead benefit can be used by the insured at a later date, in the same period of disability, when actual expenses exceed the benefit limit. |
| Benefit booster | Option that serves as a cost of living adjustment on disability benefits. If elected, benefits will increase automatically by 3% or the consumer price index, whichever is lower. |
| Businessowners policy | A single, comprehensive policy offering property and liability coverage. Designed typically for small and medium sized offices. |
| Certificate of insurance | A form verifying the issuance of a policy, detailing the coverage in general. |
| Claims made policy | Coverage for incidents that happen after the retroactive date, but prior to the expiration of a policy. The claim, however, must be reported while a policy is in force. Claims filed after coverage ends, may be covered by purchasing an Extended Reporting Period. |
| Declarations page | This portion of the policy that names the insured, policy effective date, premium, and limits of liability. |
| Employment Practices Liability Insurance | Coverage against legal actions connected to wrongful employment practices, such as discrimination, sexual harassment, and termination. |
| | |
| 1 2 3 4 |
