Glossary

A conditional payment clause is a provision in a contract, such as a construction contract, that conditions payment on some other event.

Conditional vesting refers to a vesting agreement in a contributory pension plan in which the vested benefit is predicated on nonwithdrawal of the insured's contributions.

The Condominium Association Coverage Form (CP 00 17) is the Insurance Services Office, Inc. (ISO), commercial property coverage form that covers buildings and personal property owned by condominium associations.

Confidence intervals refer to the statistical concept expressing the degree of confidence that, for instance, total losses will be below or above a given amount in any specified period, typically 1 year.

Confiscation, expropriation, nationalization (CEN), and deprivation (CEND) insurance is political risk coverage for businesses with an ownership interest in property abroad to cover loss from government nationalization of the property or other action by the government that effectively deprives the insured of the property or restricts its operations.

Conflict of laws refers to the inconsistency or difference between the laws of different states.

A connected vehicle (i.e., automobile) is equipped with Internet access that connects to outside vehicles, devices, networks, and services.

ConsensusDOCS is a family of standard construction contract documents developed and endorsed by a cross section of industry organizations representing owners, designers, general contractors, subcontractors, and sureties.

A consent judgment is a judgment entered with the consent of the defendant.

A consent to settlement clause is a provision (also known as the "hammer clause" and "blackmail settlement clause") found in professional liability insurance policies that requires an insurer to seek an insured's approval prior to settling a claim for a specific amount.