Stand-alone excess policy

Term · Insurance and risk management · MLC-T-INS-003158

An excess liability policy written on its own complete form, with its own insuring agreement, definitions, exclusions, and conditions, rather than adopting the terms of the underlying policy. Because its wording can differ from the underlying coverage, the insured must compare the two forms for gaps, a mismatch known as nonconcurrency. It contrasts with a follow-form excess policy, which incorporates the underlying policy's terms and pays only for what the underlying policy would cover.

Table 1. Record
Identifier	MLC-T-INS-003158
Field	Insurance and risk management
Subject	Excess Umbrella

Record as JSON

{
  "id": "MLC-T-INS-003158",
  "term": "Stand-alone excess policy",
  "field": "Insurance and risk management",
  "definition": "An excess liability policy written on its own complete form, with its own insuring agreement, definitions, exclusions, and conditions, rather than adopting the terms of the underlying policy. Because its wording can differ from the underlying coverage, the insured must compare the two forms for gaps, a mismatch known as nonconcurrency. It contrasts with a follow-form excess policy, which incorporates the underlying policy's terms and pays only for what the underlying policy would cover.",
  "subject": "Excess Umbrella",
  "url": "https://mlchart.com/terminology/insurance/stand-alone-excess-policy/"
}

Record 3,224 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.