excess insurance

excess insurance — Insurance which, by a provision in the policy, is relieved from contributing to other insurers of the same risk; such a policy renders the insurer liable only for the amount of loss or damage in excess of the coverage provided by another policy… …   Ballentine's law dictionary

excess insurance — n. A secondary insurance policy covering a loss in excess of that covered under a primary policy; may be referred to as excess policy. Webster s New World Law Dictionary. Susan Ellis Wild. 2000 …   Law dictionary

excess insurance — insurance covering a policyholder only for that portion of losses that exceeds a stated amount. * * * …   Universalium

excess insurance — noun 1. : insurance in which the underwriter s liability does not arise until the loss exceeds a stated amount and then only on the excess above that amount 2. : insurance over and above that necessary to meet the requirements of a coinsurance… …   Useful english dictionary

excess insurance — portion of damage which must be paid by the insured party …   English contemporary dictionary

excess — ex·cess adj: more than a usual or specified amount; specif: additional to an amount specified under another insurance policy excess coverage excess insurance Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

insurance — in·sur·ance /in shu̇r əns, in ˌshu̇r / n 1: the action, process, or means of insuring or the state of being insured usu. against loss or damage by a contingent event (as death, fire, accident, or sickness) 2 a: the business of insuring persons or …   Law dictionary

insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

excess-loss reinsurance — noun : reinsurance by a company agreeing to bear any loss in excess of a stipulated amount often with some maximum limitation compare excess insurance, excess reinsurance …   Useful english dictionary

Insurance in the United States — refers to the market for risk in the United States of America. Some main features of insurance could be said to be, *the benefit provided by a particular kind of indemnity contract, called an insurance policy; *that is issued by one of several… …   Wikipedia