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.
References in periodicals archive ?
The American Excess Insurance Assocation (AEIA), also known as the American Slip, has begun offering broader excess liability coverage and more attractive pricing.
Among PIMS' offerings are contracted management services for American Excess Insurance Exchange, Risk Retention Group (AEIX), which provide hospital excess professional liability for larger hospital systems, and enhanced endorsed programs with leading commercial insurers through a comprehensive portfolio of property, casualty and employee benefit products.
They are usually formed by a trade association or some other homogeneous group of employers to insure only the workers' comp cover, and they issue their own policies and purchase commercial excess insurance to back them up.
Hudson Insurance Group specializes in primary and excess insurance, on an admitted and non-admitted basis through Hudson Insurance Company and Hudson Specialty Insurance Company; both rated "A" (Excellent) XV by A.
Helping a wide range of businesses -- from Upper Middle Market (UMM) to Fortune 1000 companies XL Catlins Global Excess Casualty insurance team provides Lead Umbrella, Excess, Occurrence, Claims Made, Occurrence Reported and Primary Rail and Excess insurance coverages from global access points with underwriting centers in Bermuda, Dublin, Ireland, London, UK and 13 cities in North America.
Similar to the changes surrounding the capitation market, "we see the market between providers and reinsurers also changing," said Richard Berve, product manager of Provider Excess Insurance for GE Employers Reinsurance Corp.
Since its inception in 1986, MECC has become the industry leader in workers' compensation excess insurance products, helping individual employers and self-insured groups across the country manage their total cost of risk.
Michigan allows only homogenous pools to be formed and do business in the state and requires each pool to carry excess insurance to limit its risk.
American Excess Insurance Exchange, RRG (AEIX), achieved 100 percent renewal retention for the sixth year in a row.
Currently, the County maintains a self-insured retention (SIR) amount of $3,000,000 per incident and is a member of the CSAC Excess Insurance Authority (CSAC-EIA), a Joint Powers Authority which provides excess WC coverage.
American Excess Insurance Exchange (AEIX), Risk Retention Group has been ranked among the top 10 best performing midsized commercial insurance companies of 2010 by SNL Financial.
Contract notice: Excess insurance contract liability of pkp polish railway lines sa