A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

Third-Party Claims

Claims made against another person’s insurance company. For example, a person sues a condominium owner’s insurer when he sustains injuries due to a faulty balcony.

Time Element Coverage

Time element insurance coverage provides insurance for a covered incident resulting in loss of use of property for a period of time. Examples of time element coverage include Business Interruption, Rents and Rental Value, Additional Living Expenses, and Leasehold Interest coverage.


A tort is a negligent or intentional act that violates a person's rights or injures someone in some way. A tort allows someone to sue for damages. A tort is a civil action subject to judgement for damages payable to the wronged party. However, in some cases, there may be both a tort and a crime. For example, in battery, the wrongdoer may be subject to both civil and criminal penalties.)

Triple Option Plan

A type of insurance plan that offers the policyholder three options to choose from. The options are usually traditional indemnity, an HMO plan, and a PPO plan.