Group Insurance Policy for a group of persons to whom certificates of Insurances are issued as evidence of their individual coverage. The employer usually maintains the master Policy, while the certificates are merely a brief statement of highlights of the master Policy.
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US: In property and liability coverage, the combining of several locations or operations under a single policy for the same insured or insureds. The term may also be used in the case of construction wrap-ups. In either case, underlying policies or certificates of insurance are issued to insureds under the policy as evidence of coverage under the master policy.
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MEDICAL,USA,REFERENCE: See: master contract .
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Under a group insurance policy issued for employees, the contract issued to the employer. This term can also refer to a property insurance contract issued to an insured who is able to issue certificates of coverage to others.