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11 Cards in this Set
- Front
- Back
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bodily injury
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injury, sickness, disease, or death arising from the injury/sickness.
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property damage
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the damage done to or destruction of property including loss of use.
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severability
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policy applies seperatly to each insured listed. Policy limits do not increase irrespective of the number of insureds.
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contractual liability
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liability assumed by entering into a contract.
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workers compensation
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not covered in any liability policy
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contribution by equal shares
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each company pays an equal share in the event of an insured loss until one insurance company's limit is exhausted.
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per occurence(accident)
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the most a company will pay for all claims regardless of the number of persons injured,
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per person
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the max limit a company will pay for any one individual regardless of the number of persons injured
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aggregate limit
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the max limit company will pay for the sum of all claims in any one policy period
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split
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putting a maximum dollar limit on each type of liability loss possible in an accident.
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combined single limit
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the most the company will pay for one accident; determined by combining both bodily injury and property damage or just property damage or just bodily injury.
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