practice policy
An insurance policy written for a specific term (usually 1 year) covering
the risks arising out of all the insured's ongoing activities (or insured services)
during that term. The term is most often used in conjunction with architects
and engineers (A&E) professional liability insurance to distinguish between ongoing
practice coverage and project insurance (which covers only liability arising
from the architect's work on the designated project). See also
Project insurance.
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PLI XVII.E