Umbrella Liability Policy: A liability policy designed to provide liability protection above and beyond that provided by standard liability contracts.
Under-Insurance: A condition in which not enough insurance is carried to cover the insurable value, and, especially, to satisfy a coinsurance clause.
Underinsured Motorist Bodily Injury Coverage (UIM): A form of auto insurance that protects the insured if hit by a legally liable individual who does not carry enough insurance to cover damages.
Underwriter: (1) A person trained in evaluating risks and determining the rates and coverages that will be used for them; (2) An agent, especially a life insurance agent, who might qualify as a "field underwriter."
Uninsured Motorist Coverage (UM): A form of auto insurance that protects the insured if he/she is hit by a legally liable individual that is uninsured.
Universal Life Insurance: A flexible premium policy offering protection against premature death combined with a cash value account that earns a money market rate of interest.
The above information is for general informational purposes only and is not to be construed as a recommendation or advice in any way shape or form.
Copyright 2009 Stephen W. Gersh Insurance Agency, Inc. All rights reserved.