An unforeseen and unintended event or occurrence.

A notable casualty loss resulting from the grounding of the oil supertanker, Exxon Valdez, off the coast of Alaska in 1989.

The amount of insurance ceded to a reinsurer.

A form of insurance policy that includes a variety of coverages for liability exposures applicable to businesses. New standard-form policies exclude pollution coverage, although such coverage may be available through endorsement or separate policies. Also known as Comprehensive General Liability Insurance.

A form of insurance that covers damage to an insured's automobile resulting from an accident.

The use of a life insurance policy as collateral for a loan.

See Corporate-Owned Life Insurance.

This term refers to (1) a relationship between two insurers that agree to share a risk proportionally and (2) those instances in which an insured assumes a portion of the risk.

See Commercial Multi-Peril Insurance or see Competitive Medical Plans.