Workers’ Compensation
Coverage that provides benefits to employees for work-related injuries or illness and protects employers from certain lawsuits.
Waiver of Subrogation
An endorsement that limits the insurer’s right to recover from a third party after paying a claim.
Suit Limitation
A policy provision that sets a deadline for filing a lawsuit related to a claim, subject to state law.
Hold Harmless Agreement
A contract where one party agrees to assume liability for certain losses of another party.
Indemnity
A principle of insurance that aims to restore you to your financial position before a covered loss, without allowing profit.
Assigned Risk
A mechanism that provides coverage to applicants who cannot obtain insurance in the standard market, typically for auto.
Anti-Concurrent Causation
Policy wording that can limit coverage when a loss involves both covered and excluded causes occurring together or in sequence.