Glossary
A batch clause is a limitation provision, used most frequently in products liability and umbrella liability policies, that places coverage for all claims arising out of defective products produced in a single manufacturing run (or batch) within a single occurrence limit.
Read MoreBeauty contest is a colloquial phrase used to describe a process in which clients have brokers, lawyers, or other firms make competing proposals for the same assignment or business.
Read MoreA below-target risk (BTR) is the expected value of unfavorable deviations of a random variable from a specified target level.
Read MoreBench-scale tests refer to laboratory testing of potential cleanup technologies.
Read MoreA bench trial is a legal proceeding in which a case is tried before a judge rather than a jury and the judge decides both questions of law and questions of fact.
Read MoreA beneficiary is a person named by the insured to receive the proceeds or benefits accruing under a life policy.
Read MoreThe benefits payable exclusion is a standard exclusion in fiduciary liability policies precluding coverage for claims involving payment of benefits owed to a claimant if monies are available within the plan to make such a payment.
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