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Glossary


A back-to-back deductible refers to a deductible arrangement under which the deductible under the policy equals the policy limits.

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Backdated liability insurance is coverage procured for claims after a loss event has actually happened.

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Backhauling refers to a trucker's practice of hauling certain cargo one way and, on the return trip, hauling a different cargo or cargo of an unknown type or kind for a fee.

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Back pay constitutes damages claimed by a former employee representing wages and benefits that would have been paid to the former employee from the time the employee was terminated up to the time in which a claim is settled or a judgment is rendered.

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Bad faith is the term describing blatantly unfair conduct that exceeds mere negligence by an insurance company.

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A bailee is a person or organization to which possession of the property of others has been entrusted, usually for storage, repair, or servicing.

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Bailee coverage is inland marine coverage on property entrusted to the insured for storage, repair, or servicing.

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Balance is a reinsurance underwriter's benchmark that measures premium volume against the limit exposed under a reinsurance agreement.

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Balance billing is the practice of billing injured employees for the portion of medical bills that the employer or the insurer refuses to pay.

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Ban-the-box legislation requires that employment application questions relating to most types of criminal convictions be removed from applications and/or not asked of an applicant until either a second interview or a conditional job offer is made.

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