Definitions

WORD OR PHRASE	DEFINITION
Additional Insured	An entity that has coverage via your insurance policy limited to its relationship to You.
Aggregate Limit	The maximum limit of coverage regardless of the number of occurrences.
Advertising Injury	Loss due to false or misleading advertising
Assault	A threat to physically harm someone or something.
All-Risk Coverage	No such thing. Every policy has some exclusion.
Battery	Actually physically harming someone or something.
Burglary	A theft that occurs without the owner's knowledge. A break-in.
Broad Form Property Damage	Property damage to non-owned material in your care, custody or control, other than real property.
Business Interruption	Coverage for your loss of earnings or loss of tuition if there's a covered event and/or your extra expenses to operate on an emergency basis.
Certificate Holder	An entity entitled to information about your insurance and subsequent material changes to it.
Claims-Made	A policy form that covers incidents that occur and are first reported while the policy is in force. Sometimes coverage can go back to a retro-date.
Completed Operations	Coverage for non-professional services. (i.e., making & serving lunch)
Criminal Act	A violation of Federal, State, County, City, or Local law, ordinance or statute.
Earnings	Your loss of earnings or loss of tuition as a result of a covered event like a fire.
Extra Expense	The extra expense you would have to temporarily re-locate and conduct business after a covered event. example: emergency re-hab of temporary site, transportation, advertising, telephone calls.
Fire Legal Liability	Coverage for fire damage you caused to premises you occupy but do not own.
False Arrest	To wrongly seize, restrain or take someone into custody.
False Imprisonment	To wrongly restrict in any way.
Hired Auto	Coverage for you for your liability for vehicles that have been hired or chartered.
Incidental Contractual	An expressed or implied warranty
Intentional Act	A willful event. Something done deliberately with knowledge of possible outcome.
Leasehold Interest	The remaining value of a lease if you are forced to re-locate due to a covered event.
Libel	Written damaging statements
Malicious Mischief	Intentional Damage of property or rights.
Named Insured	The insured entity. See You.
Named Perils	The specific perils from which you are insured. example: fire, lightening, etc.
Negligence	Failure to use a reasonable amount of care.
Non-Owned Auto	Coverage for you if an employee uses his/her vehicle for "you".
Obligee	The beneficiary to whom a bond is payable.
Occurrence	An incident, or an event or a loss.
Occurrence-Form	A policy form that provides coverage as long as the event occurs within the policy term.
Owners & Contractors Protective	Covers you for acts of independent and sub-contractors.
Personal Injury	Libel, Slander, Invasion of Privacy.
Physical Abuse	Verbally or physically hurting someone.
Premises Liability	Coverage for the "safe use" of your premises by someone other than you. (i.e., student)
Principal	An entity that obligates its financial or physical performance with a bond.
Products Liability Completed Operations	Professional Liability Coverage for acts of professional judgment.
Retro-Date	The date, regardless of how many times the coverage has renewed, that you first had a claims-made policy. Usually there absolutely can not be any lapses.
Robbery	Theft occurring with the owners knowledge. example: Hold-Up
Sexual Abuse	Verbally or physically hurting someone sexually.
Slander	Uttered damaging statements.
Special Form	Usually includes the coverage that are not specifically excluded.
Teacher's Professional	See Professional Liability
Theft	See Burglary or Robbery
Valuable Papers	School, employee and/or student records.
Vandalism	Wanton damage of property or rights.
You	The Named Insured. This can be broadened to include employees, volunteers, partners, directors, officers, trustees, members and stockholders.