MLchartDataset catalogue

Overlapping insurance

Term · Insurance and risk management · MLC-T-INS-002461

The existence of two or more insurance policies that cover the same property, liability, or person for the same perils during the same period. This can occur unintentionally when an insured purchases multiple policies without coordinating coverage. When a loss occurs, the policies typically contribute to the payment based on their respective "other insurance" clauses, such as pro-rata or excess provisions.

Table 1. Record
IdentifierMLC-T-INS-002461
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002461",
  "term": "Overlapping insurance",
  "field": "Insurance and risk management",
  "definition": "The existence of two or more insurance policies that cover the same property, liability, or person for the same perils during the same period. This can occur unintentionally when an insured purchases multiple policies without coordinating coverage. When a loss occurs, the policies typically contribute to the payment based on their respective \"other insurance\" clauses, such as pro-rata or excess provisions.",
  "url": "https://mlchart.com/terminology/insurance/overlapping-insurance/"
}

Record 2,485 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.