What does Practice Policy mean? Read on to discover the definition & meaning of the term Practice Policy - to help you better understand the language used in insurance policies.
An insurance policy written for a specific term (usually 1 year) covering the risks arising out of all the insured's ongoing activities (or insured services) during that term. The term is most often used in conjunction with architects and engineers (A&E) professional liability insurance to distinguish between ongoing practice coverage and project insurance (which covers only liability arising from the architect's work on the designated project).
We hope the you have a better understanding of the meaning of Practice Policy.