Workers Compensation Catastrophe Cover
Excess coverage for employers who use self insurance for routine workers compensation risks. Many employers consider workers compensation exposure to be routine and predictable and set up a fund to pay these losses themselves rather than trade premium and claims dollars with an insurance company. To supplement a self-insurance program, an employer may buy insurance for catastrophic loss above a certain limit. A stop loss aggregate contract will pay all losses in one year over a specified dollar limit. A specific excess contract pays losses over a stated limit per accident.
Popular Insurance Terms
In general, a civil wrong, other than breach of contract, for which a court will provide a remedy in the form of a suit for damages. Torts include negligent acts or omissions on the part of ...
Insurance policy for which the required premium has been paid. ...
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Share of a variable dollar annuity paid to an annuitant as an income payment. ...
new dividend option under which the policyowner allows the dividends from the participating policy to be applied for the purposes of accumulating cash values. ...
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