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DEDUCTIBLE |
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Deductible Clause – Some policies are written to pay only after the policyholder has himself suffered an agreed amount of loss. The amount that he must lose first is “deducted” from the total of the damage to determine the amount the company must pay and thus becomes the “deductible”. |
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DEPRECIATION |
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The difference between the value new and a reduced value at any subsequent time. |
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DIRECTORS AND OFFICERS LIABILITY INSURANCE |
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Protects officers and directors of a corporation against damages from claims resulting from negligent or wrongful acts in the course of their duties. Also covers the corporation for expenses incurred in defending lawsuits arising from alleged wrongful acts of officers or directors. These policies always require the insured to retain part of the risk uninsured. |
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