Glossary

To accept is to agree to insure.

Glass insurance is property insurance covering breakage of building glass (such as windows) regardless of cause.

A glider kit is a new semitruck chassis, generally ordered from the factory, without an engine or transmission.

Global insurance program refers to a multinational insurance program with a coverage territory encompassing the entire world, including the country in which the insured is domiciled.

A glovebag is a polyethylene or polyvinyl chloride bag-like enclosure affixed around an asbestos-containing source (most often thermal system insulation) permitting the material to be removed while minimizing release of airborne fibers into the surrounding atmosphere.

A "blessing" by the court that protects a settling defendant from further claims with respect to the incident alleged in the complaint.

Good local standard is the policy wording that most insurers licensed to write coverage in the respective country would quote competitively to most local clients.

Good Samaritan statutes are laws in various states that relieve physicians of any liability for providing treatment in an emergency such as an automobile accident, as long as the treatment provided was not grossly negligent, wanton, or reckless and the physician received no compensation.

A good student discount is provided by some auto insurers if a student driver maintains a certain grade point average (e.g., 3.0) or is named to the honor roll or dean's list. Such discounts can range from 5 percent to 15 percent.

The governing classification in workers compensation insurance is the classification (other than a standard exception) that best describes the workers compensation exposure of an employer's business as determined by majority of payroll.