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Business Insurance Glossary

Business Insurance Glossary

Decode the confusing world of business insurance with our comprehensive glossary of terms. By understanding key industry terms, you can make educated decisions about protecting your business now and into the future.

Table of Contents - Alphabetical Order

A

B

C

Care, Custody, Or Control
Claim
Claimant
Claims-Made Insurance Policy
Coinsurance
Commercial Auto Insurance
Commercial Flood Insurance
Commercial Insurance
Commercial Umbrella Insurance
Communicable Disease Rider
Contingent Business Interruption Insurance
Continuity Date
Cyber Extortion
Cyber Liability, First-Party
Cyber Liability, Third-Party

D

Data Breach Insurance
Declarations Page
Deductible
Directors and Officers Liability Insurance (D&O)
Disability Insurance
Disaster Recovery Plan

E

Employer’s Liability Insurance
Employment Practices Liability Insurance (EPLI)
Endorsement
Equipment Breakdown Coverage
Errors And Omissions Insurance (E&O)
Excess And Surplus (E&S) Lines Insurance
Exclusive Remedy
Experience Modification Rating (EMR)
Expiration Date
Extended Reporting Period (ERP)
Extra Expense Coverage

F

Fidelity Bonds
Fiduciary
Fiduciary Liability Insurance
Freelancer

G

General Liability Class Codes
General Liability Insurance
Grace Period

H

Hired And Non-Owned Auto Insurance
Hold Harmless Agreement
Homeowner’s Insurance
Home-based Business
Host Liquor Liability Insurance

I

Indemnity
Independent Contractor
Inland Marine Insurance
Insurance Adjuster
Insurance Endorsements
Insured
Insurtech
Invasion Of Privacy

L

Legal Liability
Liability Insurance
Libel
Limited Liability Company (LLC)
Loss Control
Loss Payee
Loss Runs

M

Management Liability Insurance
Marine Insurance
Minimum Earned Premium

N

Named Insured
Named Perils
Nose Coverage

O

Occurrence-Based Insurance Policy
Open Perils

P

Per-Occurrence Limit
Personal And Advertising Injury
Premium
Premium Audit
Prior Acts Coverage
Products-Completed Operations
Products-Completed Operations Aggregate
Professional Liability Insurance
Proof Of Loss
Property Damage
Property Insurance
Public Liability Insurance

Q

Qualifying Event
Quote

R

Repetitive Stress Injury
Replacement Value
Retroactive Date
Rider
Risk Management

S

S Corp
Slander
Small Business
Sole Proprietorship
Standard Of Care
Startup
Stop Gap Coverage
Strict Liability
Subrogation
Surety Bonds

T

Tail Coverage
Tort
Tortfeasor
Triple Net Lease

U

Underwriting

V

Vicarious Liability

W

Wind And Hail Deductible
Workers’ Compensation Class Codes
Workers’ Compensation Insurance
Workers’ Compensation State Fund
Write-Off

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