Malpractice Market Value Clause Master Policy Medical Expense Insurance Misrepresentation Named Insured Named Perils Nonowned Auto Occupancy Occupational Accident Occupational Disease Occupational Safety and Health Act (OSHA) Occurrence Ocean Marine Insurance Off Premises Package Policies Partial Loss Peril Permanent Disability Benefits Personal and Advertising Injury Coverage Physical Hazard Policy Policyholder Premises Premium Primary Insurance Product Liability Proof of Loss Property Damage Liability Insurance Quote

Malpractice Common Definition: Departure from ordinary standard of care in the performance of a professional service. A practitioner is liable for damage or injuries caused by malpractice. For some professions, this type of liability can be covered by insurance. Translation: Alleged professional misconduct.	back to top
Market Value Clause Common Definition: A provision that may be used in a property damage insurance form covering certain risks; it obligates the insurance company to recognize the established market value of the destroyed and damaged stock as its actual cash value as of the date of loss, and to adjust the loss accordingly. Translation: An insurance company agrees to take into consideration the fair market value of a covered loss when determining its current cash value.	back to top
Master Policy Common Definition: A policy issued to an insured to cover property at more than one location. If locations are in more than one state, it is customary to issue underlying policies in the respective states to meet legal requirements. Translation: A policy that creates a group insurance plan for designated members of an eligible group.	back to top
Medical Expense Insurance Common Definition: Coverage available in various forms against expenses incurred for medical treatment and care as a result of bodily injury or illness, e.g., major medical expense, surgical expense, and hospitalization insurances. Translation: Insurance that covers expenses for medical treatment.	back to top
Misrepresentation Common Definition: Willfully misleading the insurance company with regard to information affecting the acceptance of a risk, the issuing of a policy, or the settling of a claim. Translation: Knowingly making false statements about the facts of a business, property or claim.	back to top
Named Insured Common Definition: Any person or firm or corporation, or any of its members, specifically designated by name as insured(s) in a policy, as distinguished from others who, although unnamed, are protected under some circumstances. Translation: Any person, firm, or organization, or any of its members whose names are on the insurance policy.	back to top
Named Perils Common Definition: Named-peril policies specify the perils, which are insured against, as distinguished from the “all risk” policies. Translation: Specific risks the policy states it will cover.	back to top
Nonowned Auto Common Definition: In commercial auto policies, refers to a vehicle the insured neither rents, borrows, owns or leases. Translation: Generally refers to cars your employees own that are used for company business.	back to top
Occupancy Common Definition: In insurance terminology, this refers to the type of business and personal property contained in the building. It is an important consideration in computing rates and determining the amount of insurance a company is willing to write on that property. Translation: This refers to what the building is used for or the nature of its contents.	back to top
Occupational Accident Common Definition: An accident occurring in the course of one’s employment and caused by inherent or related hazards. Translation: An accident that occurs while on the job.	back to top
Occupational Disease Common Definition: Impairment of health caused by continued exposure to conditions inherent in a person’s occupation. Translation: An illness that results from a person’s place of employment or over the course of employment.	back to top
Occupational Safety and Health Act (OSHA) Common Definition: Legislation providing for minimum health and safety for individuals in the performance of their labors. Translation: A federal statute that establishes safety and health standards on a nationwide basis.	back to top
Occurrence Common Definition: An accident, including continuous or repeated exposure to substantially the same general, harmful conditions, that results in bodily injury or property damage during the period of an insurance policy. Translation: An event that results in an insured loss.	back to top
Ocean Marine Insurance Common Definition: Insurance of ships and their cargoes and the various liabilities involved. Translation: Coverage for seagoing vessels and their cargoes.	back to top
Off Premises Common Definition: A policy clause providing insurance protection on personal property while it is away from the premises named in the policy. Translation: Coverage that protects your property while it is away from the insured premises.	back to top
Package Policies Common Definition: Combination policies in which several coverages are included, all in one contract. Examples are the storekeepers’ burglary and robbery policy, homeowners’ policy, blanket crime policy, special multi-peril policy, and comprehensive business policy. Translation: A single insurance policy that includes several coverages, one being liability.	back to top
Partial Loss Common Definition: A loss that does not completely destroy or render useless the insured property nor exhaust the insurance applied to it. Translation: When a covered building or property is only partially damaged.	back to top
Peril Common Definition: The cause of a loss insured against in a policy, e.g., fire, windstorm, explosion, etc. Translation: A property insurance term referring to a specific cause of loss, e.g., fire, windstorm, explosion, etc.	back to top
Permanent Disability Benefits Common Definition: Periodic compensations, usually weekly, for a disability that renders any employment impossible. Such compensation may be limited by a maximum time or a maximum amount. If unlimited, it may run for the lifetime of the insured. Translation: Payments paid to a worker who will never be able to work.	back to top
Personal and Advertising Injury Coverage Common Definition: Injury arising out of an offense committed during the policy period occurring in the course of the named insured's advertising activities if such injury arises out of libel, slander, defamation, violation of right of privacy, piracy, unfair competition or infringement of copyright title or slogan. Translation: Covers legal defense costs and damages from lawsuits that claim false, malicious or misleading statements, advertisements, promotional flyers or brochures, web sites, etc.	back to top
Physical Hazard Common Definition: This refers to the material, structural or operational features of the risk itself. Translation: A condition that creates or increases the chances of a loss such as slippery floors, congested traffic, unguarded premises and uninspected boilers.	back to top
Policy Common Definition: A printed document that is issued to the policyholder by the company stating the terms of the insurance contract. Translation: A written contract of insurance.	back to top
Policyholder Common Definition: This term is synonymous with “the insured.” Translation: The person or company protected by an insurance contract.	back to top
Premises Common Definition: The building(s) insured, containing the insured property, and any insured property immediately adjacent are considered to be the “premises.” Translation: The building(s) and its contents that are covered under the insurance contract.	back to top
Premium Common Definition: The consideration, in insurance and bonding, to be paid for a policy or bond. This term has various meanings in other businesses. Translation: The payment, or one of the regular periodic payments, that a policyholder makes to own an insurance policy.	back to top
Primary Insurance Common Definition: Provides coverage up to a specified amount or against specific perils. Translation: A policy that provides the first limits to be used to pay for a covered loss.	back to top
Product Liability Common Definition: Liability imposed for damages caused by accident and arising out of goods or products manufactured, sold, handled or distributed by the insured or other trading under his name. The accident must have occurred after possession of goods has been relinquished to others, and away from premises owned, rented or controlled by the insured. In the case of food products, the accident does not have to occur away from premises (restaurants, etc.). Translation: This is the liability a merchant or manufacturer has to assume if some defect in the product sold or manufactured injures a third party or damages his/her property.	back to top
Proof of Loss Common Definition: A formal statement made by the insured to the insurance company regarding a claim, so that the company may determine its liability under the policy or bond. Translation: The written notice the insured makes to the insurance company about a claim for loss.	back to top
Property Damage Liability Insurance Common Definition: Protection against liability for damage to the property of another not in the care, custody and control of the insured—as distinguished from liability for bodily injury. Translation: This kind of insurance protects insureds if they are responsible for damage to the property of others.	back to top
Quote Common Definition: The payment amount an insurance company or insurance agency states will need to be paid to put and keep the policy inforce. Translation: How much the insurance company or agent says you'll have to pay for your insurance coverage.	back to top

This document outlines in general terms the coverages that may be afforded under a Hartford policy. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail. All Hartford coverages described in this document may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc.

USAA is acting as an agent through its insurance agency affiliate, USAA General Agency, Inc. or USAA Insurance Agency, Inc. The USAA Business Insurance Program offered through the agency affiliate is available only to persons eligible for USAA membership. The Hartford Fire Insurance Company and its affiliates provide the insurance for this program. All insurance applications are subject to underwriting to determine acceptability. Product availability and coverage may vary by state. Insurance descriptions are general in nature. Please refer to your policy for full disclosure of coverages, limitations and conditions.