Primary and Non-Contributory
Endorsement wording stating that the vendor’s liability policy pays first (primary) for a covered claim before the Additional Insured’s own policy, and will not seek contribution from the Additional Insured’s insurer.
Insurance glossary
ACORD 25 & Certificate of Insurance Glossary
Plain-English definitions of the boxes, columns, limits, and ISO endorsement forms found on an ACORD 25 Certificate of Liability Insurance.
18 terms found
A
ACORD 101 (Additional Remarks Schedule)
An overflow page attached to an ACORD 25 certificate when the Description of Operations box on page 1 does not have enough room for all required Additional Insured entity names, project descriptions, or special wording.
ACORD 25
The standard one-page Certificate of Liability Insurance form published by ACORD Corporation used to summarize a policyholder’s active General Liability, Automobile Liability, Umbrella/Excess, and Workers’ Compensation policies as of the date issued.
Additional Insured (ADDL INSD)
A person or entity (such as a property owner, HOA, or general contractor) added to a vendor’s liability policy by endorsement so the vendor’s insurer defends and indemnifies that third party against claims arising out of the vendor’s work.
C
Certificate Holder
The recipient listed in the bottom-left box of an ACORD 25 to whom the certificate was issued. Being listed as the Certificate Holder alone does not confer any rights or coverage under the policy unless the entity is also endorsed as an Additional Insured.
CG 20 10 (Additional Insured — Owners, Lessees or Contractors — Scheduled Person or Organization)
The standard ISO Commercial General Liability endorsement form that grants Additional Insured status for liability arising out of the named insured’s ongoing operations performed for the additional insured.
CG 20 37 (Additional Insured — Owners, Lessees or Contractors — Completed Operations)
The standard ISO Commercial General Liability endorsement form that extends Additional Insured coverage to claims arising out of "your work" after operations are completed and put to their intended use.
Claims-Made vs. Occurrence Form
An occurrence policy responds to bodily injury or property damage that occurs during the policy period regardless of when the claim is filed, whereas a claims-made policy responds only if the claim is first made during the active policy period. Most commercial construction and property contracts require occurrence-form General Liability.
Combined Single Limit (CSL)
A single dollar limit on an Automobile Liability policy that applies to the total of bodily injury and property damage arising from any one accident.
D
Description of Operations / Locations / Vehicles
The large text box near the bottom of an ACORD 25 where producers note the project or property name, required Additional Insured entities, Primary and Non-Contributory language, and referenced endorsement form numbers.
E
Each Occurrence Limit
The maximum dollar amount a Commercial General Liability policy will pay for all bodily injury and property damage claims arising out of a single accident or continuous exposure.
Employer’s Liability (Part Two of Workers’ Compensation)
Coverage on the Workers’ Compensation row (E.L. Each Accident, E.L. Disease - Each Employee, and E.L. Disease - Policy Limit) that protects an employer against lawsuits involving employee workplace injuries not barred by statutory workers’ compensation exclusivity.
G
General Aggregate Limit
The maximum total dollar amount a Commercial General Liability insurer will pay during the annual policy period for all covered claims other than those falling under the Products-Completed Operations Aggregate.
N
NAIC Number
A five-digit identification code assigned by the National Association of Insurance Commissioners to each licensed insurance carrier, printed next to the insurer’s name in the INSURER(S) AFFORDING COVERAGE box.
P
Producer
The licensed insurance agency or broker listed in the top-left box of an ACORD 25 who issued the certificate on behalf of the insured vendor.
Products-Completed Operations Aggregate (PRODUCTS - COMP/OP AGG)
The annual aggregate limit on a Commercial General Liability policy dedicated to claims arising out of a contractor’s completed work or manufactured products after the job is finished.
U
Umbrella / Excess Liability
A policy that provides additional dollar limits above underlying General Liability, Automobile Liability, and Employer’s Liability policies. When active on an occurrence form, COIScreen can stack Umbrella limits onto underlying limits to meet higher contract benchmarks.
W
Waiver of Subrogation (SUBR WVD)
An endorsement by which the vendor’s insurer gives up its right to sue (subrogate against) the property owner or general contractor to recover claim payments made under the vendor’s policy.
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