Professional Liability Insurance: Glossary of Terms
Certificate of Insurance
Claims Made
Consent to Settle
-Defense Costs Outside the Limits
Effective Date
Equity Interest Coverage
Extended Reporting Period
First Dollar Defense
-Former Partners, Officers, Directors, and Employees Option
Innocent Principal Coverage
Joint Venture Coverage
-Limit of Liability per Occurance
Mediation Deductible Credit
Prior Acts Coverage
Professional Liability Insurance
Retroactive Date
Statute of Limitations
Statute of Repose
Tail Coverage Options
-Basic Coverage
-Contract Warranty
-Errors & Omissions
Risk Management
Umbrella Policy
Business Owner Policy
Casualty Insurance
Excess Liability
General Liability Insurance
Insurance Brokerage
Insurance Claim
Insurance Underwriter
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