Nonconcurrency

(redirected from Non-Concurrency)

Nonconcurrency

A situation in which two insurance policies covering the same thing have different start and end dates. This can be problematic for umbrella insurance because some losses from one's regular insurance may not count toward the limit at which the umbrella policy begins to pay because they operate on different calendars.
References in periodicals archive ?
They also raise several challenges, such as limited in-country capacity; non-concurrency with primary coverage; restrictive terms of local policy forms; cost-prohibitive charges on the DIC policy; adverse tax implications for non-admitted excess/DIC coverage; limited management control over local purchasing practices; and limited local market leverage.
ROBERT PAIANO: On the question of non-concurrency, I believe that it will ultimately be driven by the sell-side of the market, meaning the reinsurers.
The other issue parallel to the idea of non-concurrency relates to attempting to reduce concentrations of exposures.