MLchartDataset catalogue

Concurrent insurance

Term · Insurance and risk management · MLC-T-INS-000891

Multiple insurance policies that cover the same property or liability risk for the same insured during the same period. Each policy responds to a covered loss, with the total recovery limited to the actual loss amount. This arrangement requires coordination among insurers to determine their respective contributions to a claim, often through "other insurance" clauses.

Table 1. Record
IdentifierMLC-T-INS-000891
FieldInsurance and risk management
SubjectCommercial Liability
Record as JSON 
{
  "id": "MLC-T-INS-000891",
  "term": "Concurrent insurance",
  "field": "Insurance and risk management",
  "definition": "Multiple insurance policies that cover the same property or liability risk for the same insured during the same period. Each policy responds to a covered loss, with the total recovery limited to the actual loss amount. This arrangement requires coordination among insurers to determine their respective contributions to a claim, often through \"other insurance\" clauses.",
  "subject": "Commercial Liability",
  "url": "https://mlchart.com/terminology/insurance/concurrent-insurance/"
}

Record 699 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.