A health insurance contract which protects all members of a certain group against a specific hazard. In property and casualty insurance, a policy that covers a number of similar items under one endorsement. A collection of stamps or less expensive jewelry items, for example.
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UK: A policy with a single sum insured covering a number of separate items of property without sub-division of the amount. The approach is used in fire insurance for large risks and in fidelity guarantee insurance for unnamed employees.
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US: A single insurance policy that covers several different properties, shipments, or locations.
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Insurance with broad coverage frequently used in burglary and Fire Insurance. A Policy used to cover a number of individuals such as an athletic team, passengers in a certain aero plane etc. An Insurance Policy which covers several different properties or exposures under one form, instead of under separate items.