excess insurance
noun
1
: insurance in which the underwriter's liability does not arise until the loss exceeds a stated amount and then only on the excess above that amount
2
: insurance over and above that necessary to meet the requirements of a coinsurance clause
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“Excess insurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/excess%20insurance. Accessed 23 Nov. 2024.
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