excess insurance

noun

Definition of excess insurance

1 : insurance in which the underwriter's liability does not arise until the loss exceeds a stated amount and then only on the excess above that amount
2 : insurance over and above that necessary to meet the requirements of a coinsurance clause

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“Excess insurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/excess%20insurance. Accessed 15 Apr. 2021.

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