What does Excess mean? Read on to discover the definition & meaning of the term Excess - to help you better understand the language used in insurance policies.
Insurance to cover unanticipated or catastrophic losses. Excess coverage can be specific excess, which begins paying when any single claim reaches the preestablished retention, or aggregate excess, which begins paying when the cumulative cost of all claims reaches the preestablished retention.
We hope the you have a better understanding of the meaning of Excess.