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11 Cards in this Set
- Front
- Back
Claimant |
A party that makes a claim and that can be either a first-party claim ant or a third-party claimant. |
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Third-party claim |
A demandagainst an insuredby a person or organization other than the insured or the insurer,seeking to recoverdamages that may be payable by the insured's liability insurance. |
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Consent-to-settle clause |
An insurance policy provision, usuallyfound only in professionalliability policies, that requires the insurer to obtain consentfrom the insured before settlinga claim. |
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Employment practicesliability (EPL) insurance |
Insurance that covers an organization, its directors and officers,and its employees againstclaims alleging damagesbecause of wrongful employment practices such as sexual harassment, wrongfultermina tion, and unlawfuldiscrimination. |
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Sexual harassment |
A form of discrimination against an employeeby an employer based on the employee's gender,whereby the employerengages in unwel come sexual conduct as a condition of theworker's employment.Sexual harassment complaints are broken down into two categories: quid pro quo and hostile work environment. |
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Quid pro quo sexual harassment |
A practice whereby an employerdemands or expectssexual favorsin exchangefor continued employment, workplace advancement, orotherjob-related benefits. |
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Hostile work environment |
An environment that exists when an employeeis subjected to harassment that is so severeor pervasive that it alters the conditions of his or her employment and creates an abusive working environment. |
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Occurrence-based policy |
Insurance policy that provides coverage for occurrences that happen within the policy period eventhough the policy may have expired. |
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Claims-made policy |
A liability insurance policy in which a claim is made during the policy period or any extendedreporting period. |
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Condition precedent |
An event that must occur beforea duty of performance arisesin a contract. |
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Condition subsequent |
An event that, if it occurs,discharges a duty of performance in a contract. |