excess insurance

American  

noun

1. insurance covering a policyholder only for that portion of losses that exceeds a stated amount.

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Example Sentences

Ontario's Waterloo region has an eight-municipality pool, funded by levies on members, with settlements split between the city at fault, the pool and the excess insurance provider.

From Reuters • Jul. 13, 2021

The Contract Cities Liability Trust Fund is partially self-insured and is also covered by excess insurance.

From Los Angeles Times • May 12, 2019

Of that amount, about $600,000 automatically goes to the Los Angeles County Contract Cities Liability Trust Fund, which pools money from the contract cities to cover payouts tied to lawsuits as well as excess insurance.

From Los Angeles Times • May 12, 2019

Of the $6.15 million total, $2 million will be paid out of the Sheriff's Department Contract Cities Trust Fund, and the contract cities' excess insurance carrier will cover the remainder.

From Los Angeles Times • Nov. 3, 2015

County officials said the settlement will be paid from two insurance funds: $1 million from a county self-insurance fund and $1.95 million from an excess insurance fund.

From Washington Post • Apr. 21, 2015