Dictionary | Of Insurance Terms

: The legal principle that insurance should restore the insured to the same financial position they were in prior to a loss, without providing a profit.

Standard parts found in most insurance contracts to define coverage: Dictionary of Insurance Terms

: The right of an insurer to pursue a third party that caused an insurance loss to the insured. Essential Policy Components : The legal principle that insurance should restore

: Coverage primarily concerned with legal liability for injuries to others or damage to their property. Dictionary of Insurance Terms

: Specific conditions, circumstances, or items that are explicitly not covered by the insurance policy.

: The total amount of capital an insurance company has available to underwrite general coverage or specific risks.