PHMIC Logo
Pharmacists Mutual Companies Pharmacists Mutual Insurance Company Pharmacists Mutual Life Company

Word

Additional Insured 

Definition

An individual or entity that is not automatically included as an insured under the policy of another, but for whom the named insured's policy provides a certain degree of protection. An endorsement is typically required to effect additional insured status. The named insured's impetus for providing additional insured status to others may be a desire to protect the other party because of a close relationship with that party (e.g., employees or members of an insured club) or to comply with a contractual agreement requiring the named insured to do so (e.g., customers or owners of property leased by the named insured).
Attachments
Created at 10/19/2009 8:37 AM  by System Account 
Last modified at 10/19/2009 8:37 AM  by System Account 
 
Home Owners Insurance Commercial Insrance Farm Insurance Health Insurance Life Insurance Investments
Personal Commercial Farm Health Life Investments