drop down clause

drop-down clause. Insurance. An insurance-policy provision requiring an excess insurer to provide coverage to the insured even though the underlying coverage has not been exhausted, usu. because the underlying insurers are insolvent. [Cases: Insurance 2396.]

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词条贡献者

资深译员陈鹏，毕业于国内顶尖的高级翻译学院，擅长翻译各类与全球贸易及投资相关的法律文件。