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| Damages ... |
| Monetary damages awarded to an injured party by a court settlement. |
| • • • • • |
| Declarations ... |
| Usually the first page of an insurance policy that names the Insured, the property that is covered, the coverage limits and the effective dates. |
| • • • • • |
| Deductible ... |
| The dollar amount the Insured agrees to pay toward the repair or replacement of property damaged from a covered peril. |
| • • • • • |
| Defendant ... |
| The person, company or entity required to answer a legal action or suit. (Contrast, Plaintiff.) |
| • • • • • |
| Definitions ... |
| The section of an insurance policy where insurance terms used in the policy are defined. |
| • • • • • |
| Deposit Premium ... |
| Premium payment that is submitted with the application for insurance. It is based on an estimate of the actual premium. (See also, Estimated Premium.) |
| • • • • • |
| Depreciation ... |
| The decrease in property value when it has not been improved or maintained so as to offset the effects of age, wear and tear. |
| • • • • • |
| Direct Premium Written ... |
| The sum of all premium amounts on underwritten policies, which does not take into account the substantial premium amount an insurance company may be paying to a reinsurance company for ceded risks. |
| • • • • • |
| Direct Loss ... |
| Financial loss that is a direct result of a loss sustained from a covered peril. |
| • • • • • |
| Direct Response System ... |
| The method of selling insurance through bulk mailings and phone solicitations. |
| • • • • • |
| Direct Writer ... |
| An insurance agent who writes insurance policies in-house for their employer. |
| • • • • • |
| Directors and Officers Liability Insurance ... |
| A policy written for corporate directors and officers who may be sued individually by stockholders. |
| • • • • • |
| Doctrine of Reasonable Expectation ... |
| Principle of case law that determines insurance policy coverage based on what average people expect it to include, irrespective of what the policy stipulates to provide. |
| • • • • • |
| Domestic Insurance Company ... |
| An Insurance Company residing and doing business in the state where it was incorporated. |
| • • • • • |
| Duties Following Loss ... |
| A condition that sets forth the responsibilities of the Insured in the event of a loss. |
| • • • • • |
| Dwelling Policy ... |
| Insurance policy that provides property coverage to the Named Insured and their family members. It usually covers dwellings, appurtenant structures and personal property. It may also cover fair rental value and additional living expense. Liability may be included by endorsement. |
| • • • • • |
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