- Two or more insurance policies that cover the same peril or exposure.
simultaneous insurance coverage, multiple coverage
Related Terms and Acronyms
- Concurrent Causation — Definition,
- If there is more than one cause of damage in an insurance claim and one cause is covered while the other is not, the insurer is obligated to cover the loss.
- Coverage — Definition,
- The type or amount of protection afforded by an insurance policy.
- Insurance (insur) — Abbreviation,
- An arrangement where one party provides financial protection to another party for specific damages or losses.
- Insurance Policy — Definition,
- A legal contract between an insurer and entity that specifies what the insurer is required to cover and any benefits the insured entity is entitled to.