Terms starting with P
"Public Adjuster" is a licensed individual or firm that agrees to work on behalf of a policyholder for a percentage fee to help adjust the claim with an insurance claims...
The Preventative Shutdown Endorsement (PSE) may refer to an insurance policy provision that provides coverage for business interruption losses caused by the preventative or precautionary shutdown of a business. The...
Part-Time Employment Law may refer to the various laws, regulations, and policies that govern the rights and responsibilities of employers and employees who are employed in a part-time capacity. Generally,...
Policy Limit may refer to the maximum amount of coverage provided under an insurance policy. This amount is typically determined by the insurance company at the time of issuance and...
A Pitch Deck is a presentation typically used by entrepreneurs to present their business idea to potential investors. It may refer to an organized collection of slides that present a...
Professional Negligence Law may refer to a field of law that deals with the legal consequences of professional negligence or malpractice. It is a specialized area of tort law that...
Punitive Damages, a term frequently encountered in legal and insurance contexts, play a pivotal role in civil litigation. The definition of 'Punitive Damages' refers to monetary compensation awarded in lawsuits,...
"Prior bad acts," within the realm of Directors and Officers (D&O) insurance, pertains to wrongful actions or omissions that occurred before the inception of a D&O insurance policy. The definition...
Prior Acts may refer to a concept in insurance law, specifically a type of insurance called Directors and Officers (D&O) liability insurance. D&O insurance protects directors and officers of organizations...
Per Claim Limit is a key term used in Directors and Officers (D&O) insurance policies. It may refer to the maximum amount the insurer will pay for any one claim...
Prior Knowledge may refer to the knowledge an individual or entity had of a potential event or loss before the event occurred. In the context of Directors and Officers (D&O)...
Protection and Indemnity Insurance, often referred to as P&I Insurance, is a specialized form of marine liability insurance that provides coverage for a wide range of risks faced by shipowners,...
Permanent partial disability, in the realm of commercial insurance, refers to a long-term impairment or loss of bodily function that affects an individual's ability to perform certain tasks or activities....
The definition of Probable Maximum Loss (PML) refers to the estimated maximum loss that an insured property or asset is likely to incur in the event of a worst-case scenario....
Primary and noncontributory, in insurance terminology, is a clause typically found in liability insurance policies. It’s an agreement between two insurance policies where one policy is designated as the primary...
Physical impairment, in the realm of commercial insurance, refers to a condition that affects an individual's physical abilities, functions, or mobility. It refers to a limitation or loss of bodily...
A participating policy, in the realm of commercial insurance, refers to an insurance policy that provides policyholders with the opportunity to share in the financial success of the insurance company....
Payor benefit is a term commonly used in life insurance policies. Certain events that limit the policyholder’s ability to pay premiums — such as disability, death, and unemployment — trigger...
Pure risk insurance, also known as pure risk coverage, is a type of insurance that protects against losses from uncontrollable events. Pure risk involves situations where there is a chance...
A professional employer organization (PEO) is a specialized company that partners with businesses to manage certain aspects of human resources, employee benefits, payroll administration, and other employment-related functions. By collaborating...
A participating provider, in the context of insurance, refers to a healthcare professional or facility that has entered into an agreement with an insurance company or a managed care organization...
Products completed operations, within the realm of insurance, refers to a specific coverage term that may refer to the liability risks associated with products and completed work. It is a...