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.]
专业法律词汇 词条贡献者
译者圣强,毕业于一所培养高级翻译以及跨文化事务专家的精英大学,擅长翻译各种与房地产交易及建筑纠纷相关的法律文件。