Coverage

the range of items covered Coverage may be small narrow coverage or large broad coverage or wide coverage...

inflation coverage endorsement to a homeowner's policy that automatically adjusts the amount of insurance to compensate for inflationary rises in the home's value. This type of coverage does not adjust for increases in the home's value due to improvements. Source: U.S. Department of Housing and Urban Development ...

primary insurance coverage

primary insurance coverage : coverage under an insurance policy in which the insurer is immediately liable upon the happening of a covered event ...

first-party coverage

first-party coverage Compensation you receive under your own insurance policy as opposed to receiving payment from someone else's insurance policy, such as the person who caused an accident. Examples of first-party coverage include collision insurance and comprehensive insurance, in which your own insurance company pays you for losses to your own car. ...

coverage

coverage 1 : protection or indemnification by an insurance policy [the policy provides extensive against burglary] 2 : a risk assumed by the terms of an insurance contract [the policy lists four s: liability, medical payments, uninsured motorists, and physical damage] ...

Quarters of coverage

Quarters of coverage, means the number of quarterly payments made by a person into the social security fund as a basis for determining the person's entitlement to benefits, Black's Law Dictionary, 7th Edn., p. 1257....

qualifying event

qualifying event : an event or condition (as a terminal illness) that permits an acceleration or continuation of benefits or coverage ;esp : an event involving an employee covered by a group health insurance plan that would result in a termination of coverage for the employee or a qualified beneficiary if not for federal provisions for the continuation of such coverage (as for six months) NOTE: Qualifying events for continuation of group health insurance coverage include the death, divorce, or legal separation of the employee, termination from employment for a reason other than gross misconduct, reduction in working hours, and the change in status of a child who ceases to be classified as a dependent under the terms of the plan. An employee is entitled to notice of the right to continuation after a qualifying event occurs. ...

underinsurance

underinsurance 1 : insufficient insurance 2 : insurance coverage protecting usually against uninsured or underinsured motorists by compensating the insured if the tortfeasor's liability policy limits fall short of the insured's losses : insurance providing uninsured motorist coverage ...

Other-insurance clause

Other-insurance clause, means an insurance-policy provision that attempts to limit coverage if the insured have other coverage for the same loss. The three Major other-insurance clauses are the pro rata clause, the excess clause, and the escape clause, Black's Law Dictionary, 7th Edn., p. 1128....

Lamb-weston rule

Lamb-weston rule, means the doctrine that, when two insurance policies provide coverage for a loss, and each of them contains an other-insurance clause - creating a conflict in the order or apportionment of coverage - both of the other-insurance clauses will be disregarded and liability will be prorated between the insurers, Lamb-weston, Inc. v. Oregon Auto Ins. Co., 341 P.2d 110. Black's Law Dictionary, 7th Edn., p. 881....

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