Workplace misconduct is a term used to describe the various types of claims covered by Employment Practices Liability Insurance (EPLI) policies that do not include “standard” hazards such as discrimination, harassment, wrongful termination, or retaliation. The most common types of misconduct that fall under the category of misconduct in the workplace include constructive dismissal, refusal of training, loss of career opportunities, and wrongful disciplinary action.
The Inchmaree Clause is a marine insurance clause that adds coverage for damages directly caused by boiler explosions, broken shafts, other mechanical failures, latent defects in the ship’s equipment or machinery, and malfunctions or errors in the navigation or handling of the ship.
An Incident Reporting Clause is a clause in a liability insurance policy that requires or allows an insured person to report incidents, accidents, or occurrences that may give rise to claims. Also called “awareness clause” or “claims notice clause”.
Accidental malpractice is an exposure to liability associated with the offering of medical services by an entity not primarily engaged in offering such services. A manufacturing facility, for example, may be affected by the fact that it employs a manufacturing nurse to handle first aid requests. Coverage may be provided under a commercial liability policy (CGL).
A non-disputable clause is a clause on a life or health insurance policy that provides for a specific period of time (usually 2 years) during which the insurer can contest claims. After this time, claims cannot be disputed for any reason other than non-payment of the premium.
The Doctrine of Incorporation is the legal principle that the inclusion of a defective product in real estate constitutes “property damage” (PD) as defined in the General Commercial Liability (CGL) policy. This doctrine has been argued, largely unsuccessfully, in search of coverage for liability for construction defects that did not result in actual physical damage.
High limit factors are multiplicative factors that are applied to rates or surcharges for “basic” coverage limits to determine surcharges for higher coverage limits.
The increased limit table is a table of factors, expressed as a percentage, that are used to increase the basic limit rates to the limits of coverage desired by the insured.
Incurred but Insufficient (IBNE) are loss reserves allowing an increase in an existing reserve because “not enough reported”; also called incurred but under-reserved (IBNER) or reserved but not enough (RBNE).