Occupational Hazard :: Occupations which expose the insured to greater than normal physical danger by the very nature of the work in which the insured is engaged and the varying periods of absence from occupation, due to the disability, that can be expected.

 

Occurrence :: 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.

 

Operative Clause :: Defines the class and nature of business covered by a specific reinsurance treaty.

 

Overriding :: In reinsurance, commission paid to the ceding company which is more than the acquisition cost to allow for additional expenses.