Business insurance uses many terms, acronyms, and jargon. Here you'll find explanations for the most commonly used terms related to business insurance.
A young woman is receiving physical therapy from a female therapist.
What Is Bodily Injury?
Factory burning at night in Baltimore
How Insurable Interest Afffects Your Recovery for a Claim
Female small business owner reading insurance documents while sitting in a restaurant.
What Is an Insurance Binder?
Two businesswoman working together in an office.
What Are Insurance Conditions?
Auto accident involving two cars
Difference Between Comparative and Contributory Negligence
Cartoon businessman thinking with question mark bubbles
How an Occurrence Policy Differs From a Claims-Made Policy
businesswoman reading a paper document
The Purpose of Business Insurance Exclusions
Fireman fighting warehouse fire
What Is an Occurrence in a General Liability Policy?
Judges gavel and justice scales weigh vicarious liability
What Is Vicarious Liability in Business Relationships?
Golden scales of justice
What is the Meaning of Subrogation?
Original reference map taken from NASA
What Does the Insurance Services Office (ISO) Do?
Two women are seated on a couch and looking at a laptop.
What Is a Legal Contract?
Insurance adjuster inspecting crack in brick wall.
What Is Property Damage?
Waves crashing against a break wall in conjunction with high tide and a storm as a red car drives on the road
What Does Concurrent Causation Mean?
Determining the right coinsurance for their property.
What Is Coinsurance?
two businessman shake hands
What Does Additional Insured Mean?
Man holding a paper with the words "Are You Covered?"
How the NCCI Helps With Workers Compensation
Woman calls insurance company after a car crash
What Is an Omnibus Clause?
Valet parking sign
Meaning of the Care, Custody or Control Exclusion