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A - B

Accident

Sudden accidental event causing damages

Accident without collision

Coverage includes damage caused by projectiles, falling/flying objects, fire, theft, explosions, earthquakes, windstorms, hail, floods, malicious acts, riots or social unrest. Moreover, the coverage in this section extends to damage caused by collisions involving people or animals.

Accidental dismemberment

Loss of a limb of loss of use of a limb as a result of an accident.
Additional expenses
Extra costs, if applicable, over and above the total cost incurred in restoring property to enable the insured to resume his/her professional activities, in excess of what it would normally have cost during the same period if the accident had not occurred; these costs include the use of other property or means, or other related emergency costs. At no time does the insurer's liability extend to loss of income or additional expenses in excess of those required in order to continue your professional activities, or the cost of repairing or replacing the listed property damaged or destroyed by a covered accident, except if these excess costs are incurred in the aim of reducing the total amount of additional expenses.

All-perils

Covers all damage, with the following exclusions:

• damage caused to tires or consisting of or caused by mechanical fracture or breakdown of any part of the automobile or by rusting, corrosion, wear and tear, freezing, or explosion within the combustion chamber, unless the loss or damage is coincident with other loss or damage covered by such subsection or is caused by fire, theft or malicious mischief covered by such subsection;
• damage caused by the conversion, embezzlement, theft or secretion by any person in lawful possession of the automobile under a hypothec, conditional sale, lease or other similar written agreement;
• damage caused by the voluntary parting with title or ownership, whether or not induced to do so by any fraudulent scheme, trick, device or false pretence;
• damage to trailer contents;
• damage to tapes and equipment for use with a tape player or recorder, or to compact discs, unless such tapes, equipment or discs are in the tape player, recorder or disc player;
• damage caused directly or indirectly by bombardment, invasion, civil war, insurrection, rebellion, revolution, military or usurped power, or by operation of armed forces while engaged in hostilities, whether war be declared or not.

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C

Claim

Damage to your vehicle or damage to a third party, whether or not you are responsible, or damage caused by fire, theft, vandalism, etc.

Co-insurance

In general, with respect to group insurance, the insurer pays for only part of the eligible expenses (e.g. 70% or 80%). Co-insurance is the portion of the expenses that are assumed by the insured.

Co-insurance clause

An insurance policy can contain co-insurance clauses with different percentages, i.e. 50%, 80%, 90% and 100%. These clauses require that the policy owner maintain coverage equal to or greater than the percentage of the replacement cost. Whatever the percentage, the same calculation applies:

Coverage in force divided by the required coverage

x Accident=

Benefit paid

In case of loss, the conditions in the clause must be met to reach an appropriate settlement.
The co-insurance clause applies to each item for which a percentage is stipulated for this purpose in the specific conditions included in the policy.

Collision

This means a collision with the ground or between two vehicles that are coupled together.
The term "upset" refers to a partial or complete vehicle rollover.

Condominium property

A condominium building is one that has been divided into separately owned units. Each unit can be owned by one or more individuals. Each unit owner has exclusive ownership of his/her unit and joint ownership of the common building elements in proportion to the relative percentage represented by his/her unit. Moreover, the co-ownership agreement can designate certain common areas for the exclusive use of one unit owner (e.g. a private balcony attached to a unit can be considered an exclusive-use common area).

Corporate civil liability

The insurer will cover the financial impacts (including interest before a judgment is rendered) of claims made against you arising from personal injury, material damages or loss of use of physical assets. To be covered, the above mentioned damages must be incurred while the policy is in force and be caused by an accident that occurred within the territorial limits of the policy.

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D

Defined contribution plans

Pension plan in which the contributions made by the worker are pre-determined, but in which the retirement benefits are subject to the fund's performance (interest) and are therefore not guaranteed.

Dependent children (group)

Children under your responsibility. In general, any child under age 21, or age 25 if he/she is a full-time student at a recognized institution.

Disability insurance

Policy or plan that replaces your income in the event you become disabled due to an accident or illness.

Driver profile

Takes into account the driver's age, sex, occupation, driving experience, claims, and the location and use of the vehicle.

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E - F

Errors and omissions

A professional liability insurance policy covers errors, omissions and acts of negligence that may occur during the performance of regular duties.

Experience/driving record

The number of years a person has driven and/or owned a vehicle.
Your driving record reflects all claims and violations (of the Highway Safety Code and the Criminal Code).

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G - H - I

Group insurance

Insurance plan in which several people (working for the same employer or working within the same organization) are grouped together on the same policy, to share the insurance costs. This type of policy generally includes life, disability and medical coverage.

Immovable parts

The insurer covers, up to the amount stipulated in the specific conditions, the exclusive immovable parts of your home, not including improvements made or paid for by you, but only in the event that the condo corporation's insurance is inadequate.

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J - K - L

Leasehold improvements

Improvements or alterations made to the leased property, at your expense, provided that they are not covered by another insurance policy and that you do not own the building(s) in question; leasehold improvements that you acquired by agreement with a previous tenant are considered to have been made at your expense.

Legal coverage for warehouse operators

Covers the legal liability for operating a storage facility if the stored merchandise is lost or damaged.

Life insurance

Insurance plan where an insurer agrees to pay a specified amount of money to your designated beneficiary on your death.

List of eligible medications

List used by the government and insurers to determine whether or not a drug is covered.

Loss of income

When you are disabled following an accident or illness and are unable to work, your employer stops paying you a salary.

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M - N - O - P

Personal civil liability

The insurer will cover the financial impacts of claims made against you arising from personal injury or material damages involuntarily caused to third parties anywhere in the world as a result of your personal activities.

Personal property

All chattels owned and used by an insured, and normally found in a home. Personal property insurance also covers the property of students registered under the policy and temporarily living outside the home. Certain types of property, such as motorized wheelchairs, boats, trailers, and garden equipment are also covered.

Private plan

Insurance plan that is offered and managed by a private insurer.

Proof of insurability

Proof of good health required by an insurer. Can be in the form of a questionnaire supported by your medical record, or a medical examination.

Property (business)

The definition varies according to the insurer.

• Stock

Merchandise of any kind, usually related to the insured's professional activities, including packaging, supplies, and advertising materials, and similar property belonging to a third party that the insured has an obligation to insure or for which the insured can be held liable.

• Equipment

Contents of any kind of buildings usually related to the insured professional activities, with the exception of the above-mentioned merchandise, specifically furniture, fixtures, equipment, machinery, tools, utensils, accessories and trim, as well as similar property belonging to a third party that the insured has an obligation to insure or for which the insured can be held liable.

Property being installed

Any property destined to be installed.

Property being transported

Licit property defined according to specific terms and belonging to the insured or a third party, for which the insured is liable, from the instant the property leaves the loading point and during the entire trip, up until it arrives at its destination.

Property belonging to a third party

Property of any kind, usually related to the insured's professional activities, that belongs to a third party and that the insured has an obligation to keep insured or for which the insured can be held liable.

Property in transit

Designated property, only while under the responsibility of the insured or other transport companies during transfers, including while it is on a ferry, railway car or transfer barge, or at stations or on docks during the trip.

Public plan

Insurance plan offered and managed by a government.

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Q - R

Rental income

The insurer will cover the loss of rental income (with proven value), up to the maximum stipulated in the specific conditions, should any part of the dwelling or a dependency thereof, rented or for rent, is rendered unusable as the result of a covered accident or repairs required following a covered accident, for the period of time necessary to complete the repairs.

S - T

Shared liability for common areas

This coverage is an important aspect of condominium insurance, since it enables you to split the liability for the building's common areas with the other unit owners. The insurer will pay your part of any special shared liability eligible under the rules of the condominium corporation, up to a pre-determined maximum.

Specified perils

Specified perils, including fire, lightning, theft or attempted theft, explosions, earthquakes, windstorms, hail, riots, social unrest, the forced landing or crash of aircraft or any parts thereof, and the grounding, capsizing, catching fire or derailment or collision of any land vehicle or watercraft used to transport the insured vehicle.

Spouse (group)

The definition of spouse is very important in group insurance. The period of time before a common-law spouse can be covered by group insurance can vary from one insurer to another. Please refer to your policy.

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U- V- W

Umbrella liability

This protection offers umbrella and excess liability coverage in addition to your basic insurance policies.
Excess: $1,000,000 to $5,000,000 of additional civil liability coverage.

Umbrella: covers certain exclusions in your basic civil liability policy, specifically:

• personal injury
• damage to leased or borrowed property
• liability for activities of an insured acting as a volunteer director or officer of a non-profit and non-political organization
• damage caused by the insured in using reasonable force to protect individuals or property

Underinsurance

If the condominium corporation does not have adequate insurance.

Vehicle owner

The vehicle owner is:

• the person to whom the vehicle is registered
• the auto insurance policyholder

Waiting period

Period before the insurer pays out disability benefits. Reduces the cost of the insurance

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X - Y - Z