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Business insurance glossary

Find straightforward definitions of common insurance terms.

Insurance is filled with legalese and technical jargon. This glossary covers terms you may run into while researching policies or managing your existing coverage. You can always contact our insurance experts to discuss how these common terms apply to your business.

A - C

ACORD certificate of liability insurance
Actual cash value
Additional insured
Aggregate limit
All-risk coverage
Assessed value
Claimant
Claims-made policy
Coinsurance
Cyberextortion
Cyber liability, first-party
Cyber liability, third-party

D - P

Digital assets
Duty to defend
Expiration date
Grace period
Insurable risk
Insurance adjuster
Insurance agent
Insurance binder
Named perils
Open perils
Per-occurrence limit
Prior acts coverage
Professional indemnity insurance
Professional negligence

Q - Z

Qualifying event
Renewal
Retroactive date
Rider
Tail coverage
Tort
Tortfeasor
Underwriting
Vicarious liability
Workers' compensation class codes

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The information provided on this website does not constitute insurance advice. All content and materials are for general informational purposes only. Complete Insureon's online application and contact one of our licensed insurance professionals to obtain advice for your specific business insurance needs.