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PIKE Insurance Service has collected a list of Insurance Terms Definitions to help Contrators fully understand what they're getting themselves into when choosing an Insurance Carrier. The list is several pages, so PIKE listed each page of definitions, alphabetically. Use the navigation system to the right and browse the list of definitions by name or click through each page using the "NEXT PAGE " button at the top each page.

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Not sure where to start or what questions to ask? Let one of PIKE's Customer Service Reps. help you. PIKE is here to assist you with:

 
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Occurence (CGL)

This term means an accident, including continuous or repeated exposure to conditions, which results in bodily injury or property damage neither expected nor intended from the standpoint of the insured. In some lines of business, such as liability, an occurrence is distinguished from accident in that the loss doesn't have to be sudden and fortuitous and can result from continuous or repeated exposure which results in bodily injury or property damage neither expected not intended by the insured.

Owner's or Contractor's Protective Liability Coverage

This insurance coverage provides for payment on behalf of the insured of all damages the insured becomes legally obligated to pay due to bodily injury or property damage caused by an occurrence rising from the following:

  • Operations performed for the named insured by independent contractors.
  • Acts or omissions of the named insured in connection with his/her general supervision of such operations.

This does not include maintenance and repair at premises owned by or rented to the named insured, or structural alterations at such premises that do not involve changing the size of or moving buildings or other structures.

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