Reference guide
Insurance Glossary
Plain-language definitions of common insurance terms across policies, coverage, and claims. Check your policy or plan documents for the terms that apply to you.
Find an insurance term
Showing 24 of 92 matching terms
Terms beginning with C
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Commercial crime coverage
Business insurance - Insurance for defined losses from theft, forgery, employee dishonesty, computer fraud, or similar criminal acts.
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Commercial crime insurance
Business insurance - Coverage for specified business losses involving theft, fraud, forgery, or employee dishonesty.
- Also called: business crime insurance
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Commercial inland marine insurance
Business insurance - Coverage for movable property, specialized equipment, and related exposures that are not well served by standard property forms.
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Commercial package policy
Business insurance - A business policy that combines two or more commercial coverage parts into one package.
- Also called: CPP
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Commercial property insurance
Business insurance - Coverage that may protect a business building, equipment, inventory, and other property from covered causes of loss.
- Also called: business property insurance
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Commercial property valuation
Business insurance - The method a commercial property policy uses to value covered loss, such as replacement cost or actual cash value.
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Commutation agreement
General insurance - An agreement ending reinsurance obligations through a negotiated final payment or settlement.
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Complaint index
Claims - A measure comparing an insurer’s share of consumer complaints with its share of market premiums or policies.
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Completed operations coverage
Business insurance - Liability coverage for certain injury or damage arising after a business has completed its work or service.
- Also called: products-completed operations
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Comprehensive coverage
Auto insurance - Optional auto coverage for covered vehicle damage caused by events other than a collision, such as theft, hail, or animal strikes.
- Also called: other-than-collision coverage
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Comprehensive deductible
Auto insurance - The amount a policyholder may pay before comprehensive coverage pays for a covered non-collision vehicle loss.
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Concealment
General insurance - Failure to disclose a material fact that an insurer was entitled to know when issuing or handling a policy.
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Conditional receipt
Life insurance - A receipt that may provide limited temporary life insurance coverage while an application is being reviewed, if stated conditions are met.
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Conditional renewal
General insurance - A renewal offered only if the policyholder accepts changed terms, conditions, limits, or premium.
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Conditions
General insurance - Policy provisions that describe duties, requirements, and rules the insurer and insured must follow.
- Also called: policy conditions
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Condo insurance
Home insurance - Insurance for a condominium unit owner that may cover belongings, unit improvements, loss assessments, liability, and additional living expenses.
- Also called: HO-6 insurance
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Consecutive loss
General insurance - A series of losses occurring in succession that may be treated separately or together under the policy wording.
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Consent to settle clause
Claims - A policy clause addressing whether the insurer or insured must consent before a liability claim can be settled.
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Consumer complaint
Claims - A formal complaint submitted to an insurer or insurance regulator about policy sales, service, or claim handling.
- Also called: insurance complaint
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Contents coverage
Home insurance - Coverage for personal belongings inside a home or rental after a covered loss.
- Also called: contents insurance
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Contestability period
Life insurance - A period after a life policy begins when the insurer may investigate material application statements after a claim.
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Contingent annuitant
Life insurance - A person whose survival may determine whether annuity payments continue after the primary annuitant dies.
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Contingent beneficiary
Life insurance - A beneficiary who receives policy proceeds if the primary beneficiary has died or cannot receive them.
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Contingent business interruption
Business insurance - Coverage that may help replace lost income when a supplier, customer, or other dependent business suffers covered property damage.
- Also called: contingent time element coverage