Insurance which applies to that portion of a loss or damage which exceeds a specified amount.
(Assurance complémentaire or Assurance des risques successifs) Excess insurance relates to an insurance policy which becomes effective only when a loss is in excess of a certain amount or where it is in excess of the primary policy.
Coverage which becomes available to the insured only above a stipulated amount of loss, or only after any other applicable insurance has been exhausted.
When two or more policy coverages apply to the same loss, the coverage that applies after the primary insurance coverage limits have been reached.
A separate insurance policy with limits above the primary (or "first dollar") policy.
(1) Covers losses above a certain amount, with losses below that amount usually covered by a regular policy. (2) Insurance to cover an unusual or one-time risk, for which coverage is unavailable in the normal market.
Coverage which applies only after the limits of the primary insurance have been exhausted. See Primary Insurance.
Excess Insurance is property, liability, or health coverage above the primary amount of insurance. For example, the primary coverage is $100,000 and the Excess Insurance is $1,000,000. If losses exceed $100,000, the excess insurance will pay for the losses up to a total of $1,000,000
An insurance policy covering the insured against loss or damage above the limits of primary insurance.
When two or more policies or coverages apply to the same loss, the one that applies only after the limits of the primary coverage have been exhausted
Insurance that affords coverage above the limits provided by underlying risk financing, either primary insurance policies or a self-insured retention.
The amount of insurance which is available only when this amount exceeds a certain figure.
An amount of protection which bears all or a portion of a loss after the loss exceeds an agreed amount. This amount may or may not be insured elsewhere by the company issuing the policy. Excess policies are not subject to the basic principle of contribution with non-excess policies, although they may contribute or share the loss with other excess policies.
Health coverage against loss in excess of a stated amount or in excess of coverage provided under another insurance contract.
An insurance that takes effect only in respect of losses exceeding a stated amount or the amount covered by a previous (or primary) insurance to which it does not make contribution.
A coverage designed to be in excess over one or more primary coverages, and which does not pay a loss until the loss amount exceeds a certain sum. Contrast with Primary Coverage.
Coverage that applies on top of underlying insurance that is primary. When the primary coverage limit is exhausted, the excess coverage takes over.
(a) coverage that applies on top of underlying insurance. Excess insurance does not pay until the PRIMARY insurance exhausts its limit. (b) That portion of a LINE that exceeds the company's NET LINE or RETENTION.
Coverage that applies on top of underlying insurance that is primary, i.e., that pays until its coverage limit is exhausted at which point the excess coverage takes over.