Glossary

Conditionally renewable refers to a contract of health insurance stating that the policy is renewable under certain conditions as defined in the contract.

A conditional binding receipt refers to a receipt in life insurance that guarantees that if the risk is accepted, the named insured is insured from the date of issuance of the receipt.

A conditional payment clause is a provision in a contract, such as a construction contract, that conditions payment on some other event.

Conditional vesting refers to a vesting agreement in a contributory pension plan in which the vested benefit is predicated on nonwithdrawal of the insured's contributions.

The Condominium Association Coverage Form (CP 00 17) is the Insurance Services Office, Inc. (ISO), commercial property coverage form that covers buildings and personal property owned by condominium associations.

Confidence intervals refer to the statistical concept expressing the degree of confidence that, for instance, total losses will be below or above a given amount in any specified period, typically 1 year.

Confiscation, expropriation, nationalization (CEN), and deprivation (CEND) insurance is political risk coverage for businesses with an ownership interest in property abroad to cover loss from government nationalization of the property or other action by the government that effectively deprives the insured of the property or restricts its operations.

Conflict of laws refers to the inconsistency or difference between the laws of different states.

A connected vehicle (i.e., automobile) is equipped with Internet access that connects to outside vehicles, devices, networks, and services.

ConsensusDOCS is a family of standard construction contract documents developed and endorsed by a cross section of industry organizations representing owners, designers, general contractors, subcontractors, and sureties.