Glossary

Rolling policy limits refers to an arrangement in which the amount of insurance stated at inception of the policy period is an aggregate limit over a multiyear period, with premium adjusted at each annual anniversary.

Rolling stock refers to all the vehicles, whether self-propelled or not, that operate on a railroad line.

A rolling wrap-up is a controlled insurance program that insures an ongoing construction program and can include multiple projects.

Root cause analysis (RCA) represents a common technique used to understand the "why" of loss events in order to prevent their reoccurrence.

Royalty interest describes the ownership of a portion of the resource or revenue produced from the leased property.

Rule 11 sanctions are sanctions (court-ordered fines) imposed against attorneys or parties for abuse of process.

In an ocean marine hull policy, the running down clause adds legal liability coverage for damage done to another ship or its cargo resulting from a collision with, and caused by, the insured vessel.

A runoff provision is a provision in a claims-made policy stating that the insurer remains liable for claims caused by wrongful acts that took place under an expired or canceled policy for a certain time period.