Definition of "Stacking"
Circumstance under which the insured maintains that, if an insurance policy covers at least two scheduled items of real or personal property, in the event of a loss applicable coverage should be twice the stated limit in the policy. In an effort to avoid the stacking issue, automobile policies include a stipulation that the limit of liability stated in the declarations section is the maximum amount the insurer will pay for all damages resulting from one accident, regardless of the number of insureds, claims made, vehicles, or premiums stated in the declarations section, or vehicles involved in an accident.
Popular Insurance Terms
Coverage for the employer in the event of a tort committed by an employee in the use of his or her own car while conducting business on behalf of the employer. ...
tort against another person's property, designed to detain or dispose of it in a wrongful manner. For example, wrongful selling of another person's automobile without permission would ...
Coverage against all liability exposures of a business unless specifically excluded. Coverage includes products, completed operations, premises and operations, elevators, and independent ...
Proportion of a premium allocated to pay losses, which is equivalent to (1.00 - expense ratio). ...
Loss experience of a given insured. ...
Individuals other than the crew of a ship who forcefully steal the ship and/or its cargo. This event is an insured peril under ocean marine insurance. ...
Same as term CEDE: to transfer a risk from an insurance company to a reinsurance company. ...
Amount charged to an insured that reflects expectation of loss for a covered risk; and insurance company expenses and profit. ...
Plan to control employer's health care cost through the introduction of practice guidelines or protocols for health care providers, and to improve the methods used by employers and ...
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