Jargon Buster

We’re committed to helping our customers understand insurance. Here’s a list of common words and phrases you will come across in your policy and when making your decisions.
All | A B C D E F I L N P R S U V
There are currently 5 entries in this directory beginning with the letter C.
Certificate of Insurance
A certificate of insurance is a document issued by an insurance company/broker that is used to validate the existence of insurance coverage under specific policies.
A formal request to an insurance company asking for payment based on terms of an insurance policy.
Claims Made Basis
A policy issued on a ‘Claims Made’ basis meets claims that are made and reported during the policy period shown in the policy.
Claims Occurring Basis
A policy issued on a ‘Claims Occurring’ basis covers claims that occur during the policy period regardless of when the claim is made. Although you may have changed insurer they will still accept a claim even though the policy may no longer be in force.
Condition Precedent to Liability
This is potentially more serious than a policy condition because an insurance company stipulates that it will only have a liability to pay a claim if a policyholder complies with the specific policy condition.

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