Glossary

Contingent commissions are paid by an insurer or reinsurer to an insurance intermediary and are based on the profitability of the business that the intermediary placed with the insurer or reinsurer.

The term contingent insurance refers to a policy that is contingent on the absence of other insurance.

Contingent liability is coverage for losses to a third party for which the insured is vicariously liable.

A continuance is when a hearing or trial is postponed or put off until a later date.

A continuation of coverage in bankruptcy provision is a clause in an insurance policy requiring an insurer to provide coverage even though an insured has declared bankruptcy.

The continuing undertaking rule of tort law tolls (i.e., temporarily stops from running) a statute of limitation for bringing a claim of negligence.

A continuous contract is a form of reinsurance contract for accepting new business that does not terminate automatically but is intended to continue unless one of the parties delivers notice of intent to discontinue or termination is mutually agreed to in accordance with the termination provisions of the contract.

Continuous injury trigger is the legal principle, recognized in some jurisdictions, that ongoing or developing injury or damage "occurs" throughout its progress, thus triggering coverage under each occurrence-based policy in effect at any point in that progress.

The continuous treatment rule is a common law liability doctrine stating that if a physician has treated a patient over a period of time, only one policy limit applies—the one in force at the time the claim is made.

A contract is an agreement between two or more parties exhibiting the following necessary characteristics: mutual assent, competent parties, a valid consideration, and legal subject matter.