The document defines key terms related to liability and insurance claims. It explains that a release is a legally binding contract between parties to a dispute that settles the dispute and releases both parties from further obligations. It also defines compensatory damages as payments to reimburse actual harm, and punitive damages as payments to punish reckless or malicious acts. The document outlines various types of insurance coverage including medical payments, occurrence-based coverage, claims-made coverage, and limits on coverage including per person, per occurrence, and aggregate limits. It promotes Claim Ally services for assistance with insurance claims.

1. Liability Definitions
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3. Release
• A legally binding contract between the parties
to a dispute that embodies their agreement,
obligates each to fulfill the agreement, and
releases both parties from further obligation
to one another that relates to the dispute

4. Compensatory Damages
• A payment awarded by a court to reimburse a
victim for actual harm.

5. Punitive damages (exemplary
damages)
• A payment awarded by a court to punish a
defendant for a reckless, malicious, or
deceitful act to deter similar conduct; the
award need not bear any relation to a party’s
actual damages.

6. Supplementary Payments
• Various expenses the insurer agrees to pay
under a liability insurance policy (in addition
to the liability limits) for items such as
premiums on bail bonds and appeal bonds,
loss of the insured's earnings because of
attendance at trials, and other reasonable
expenses incurred by the insured at the
insurer's request.

7. Medical Payments Coverage
• Coverage that pays necessary medical
expenses incurred within a specified period by
a claimant (and in certain policies, by an
insured) for a covered injury, regardless of
whether the insured was at fault.

8. Occurrence-Based Coverage
• Coverage that is triggered by the actual
happening of bodily injury or property
damage during the policy period.

9. Claims-Made Coverage Form
• A coverage form that provides coverage for
bodily injury or property damage that is
claimed during the policy period.

10. Retroactive Date
• The date on or after which bodily injury or
property damage must occur (or a personal
and advertising injury offense must be
committed) in order to be covered.

11. Each Person Limit
• The maximum amount an insurer will pay for
injury to any one person for a covered loss.

12. Each Occurrence Limit
• The maximum amount an insurer will pay for
all covered losses from a single occurrence,
regardless of the number of persons injured or
the number of parties claiming property
damage.

13. Aggregate Limit
• The maximum amount an insurer will pay for
all covered losses during the covered policy
period.

14. Split Limits
• Separate limits for bodily injury and property
damage liability coverage.

15. Single Limit
• A single limit of liability for the combined total
of bodily injury and property damage from
any one accident or occurrence.

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