Labor union group life insurance refers to an insurance plan for members of a union that usually offers annual renewable term life insurance policies, but some plans provide permanent life insurance policies.
The Lamb-Weston rule prescribes a way of apportioning coverage among multiple applicable policies that imposes pro rata sharing of covered losses, regardless of the policies' "other insurance" provisions.
A laptop exclusion is one found in cyber and privacy insurance policies that excludes coverage for both first-party property and third-party liability claims caused by lost or stolen laptop and notebook computers.
A large deductible plan is a cash flow workers compensation insurance program that allows the insured to retain a portion of each loss through a substantial deductible and to transfer onto an insurer losses in excess of that deductible.
A laser exclusion is an exclusionary endorsement under a claims-made commercial general liability (CGL) policy that excludes liability arising from the products, locations, accidents, or work specified in the endorsement.