Excessive Insurance

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Excessive Insurance

Insurance over and above the policyholder's needs. For example, if one's homeowners insurance has a $500,000 benefit but it would only take $150,000 to rebuild one's house and replace one's possessions, one has excessive insurance. A person or company with excessive insurance likely is paying too much in premiums.
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com)-- Status Global Insurance (SGI) are excited to announce the launch of a new Car Hire Excess Insurance.
Premiums for Flood Excess Insurance are calculated using various factors that include advanced flood data mapping, exact location of the property concerned and the size of the excess premium.
Primary insurance rates in the GCC could continue to drop because of excess insurance capacity.
TNCs must also maintain $200,000 in excess insurance in the pre-match period.
On April 16, XL Group announced that its Environmental insurance business has created a new excess insurance policy providing their clients and brokers in the US and Canada with a simplified solution for buying an additional layer of environmental insurance protection.
The State of North Dakota is looking to contract with an Insurance Broker to assist the Risk Management Division in evaluating the availability, options, alternatives, services, costs, and placement of excess insurance for the Risk Management Fund.
A self-insurer may have experienced significant increases in its excess insurance costs--which limits the cost of a single occurrence or the aggregate dollar of losses--potentially compounded by decreases in projected investment income, which typically increases funding.
Securitas buys "very, very big limits," he said, noting that the excess insurance was led by Lloyd's underwriter Millennium.
The National policy contained a specific clause that failure to notify the insurer of an "event" in writing, and within 120 days, would result in forfeiture of the excess insurance.
But Mrs Gresty, of Ellesmere Port, said she is expecting more legal resistance from Excess Insurance Company Limited, possibly in the House of Lords.
AMONG the companies covered by Excess Insurance was a pipe lagging firm in Ellesmere Port, Merseyside.
It means the family of mesothelioma victim Charles O'Farrell are a step closer to receiving pounds 152,000 in compensation from his former employer's insurers Excess Insurance Company Limited.