The parallel payments that occur when, following the pensioner’s death within the guaranteed pensions period, the payment of the pension runs concurrently for a time with a dependant’s pension.
Insurance Encyclopedia
Overlapping Insurance
Coverage from two or more policies or insurers which duplicates coverage of certain risks. Also, See Also: “Concurrent Insurance.”
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Insurance from at least two insurers that duplicates the coverage of some risks.
Overlapping policies
See: Non-Concurrent Policies.
Overlie
The amount of insurance or reinsurance that exceeds the insurer or reinsurer’s usual capacity. This term can also refer to an insurer or reinsurer’s commitment over and above the usual capacity.
Overline
An inadvertent reinsurance acceptance that results in a reinsurer committing more capacity on a single risk than its intended exposure.