Glossary

Excess refers to insurance to cover unanticipated or catastrophic losses.

Excessive fee claims are made against fiduciaries responsible for overseeing 401(k) plans for allowing the outside administrator to charge excess fees.

An excess ad damnum letter is a letter sent to each defendant in a lawsuit who is covered under the liability policy, advising that the amount sued for exceeds the policy limits.

Excess and surplus (E&S) lines insurance is any type of coverage that cannot be placed with an insurer admitted to do business in a certain jurisdiction.

Excess cover is coverage for which limits apply once the amount of primary insurance under another policy has been paid.

Excess (XS) insurance is a policy or bond covering the insured against certain hazards and applying only to loss or damage in excess of a stated amount or specified primary or self-insurance.

Excess interest is interest credited to the policy account of an insured in excess of the minimum amount stated in the policy.

An excess liability "follow form" policy is excess insurance that is subject to all of the terms and conditions of the policy beneath it.

An excess liability policy is a policy issued to provide limits in excess of an underlying liability policy.

Excess limit is the highest amount of insurance that will be offered in a given situation in excess of basic limits.