Sports Insurance Glossary : Letter U

    Umbrella Coverage - (See Excess/Umbrella Coverage)

    Underwriter - An employee of an insurance company who is a selector of risks. The underwriter is expected to select business that will produce an average risk of loss no greater than anticipated for the class of business. The term may also be an agent or other field representative who is referred to as a "field underwriter".

    Unearned Premium - The portion of a property/casualty insurance premium that applies to the unexpired portion of the policy period.

    Uninsured Motorists Coverage (UM) - Pays the policyholder and passengers in his/her car for losses sustained by reason of bodily injury, sickness, disease or death caused by the owner or operator of an uninsured automobile or a "hit-and-run" driver.

    Uninsured Motorists Property Damage Coverage (UMPD) - Provides coverage to a vehicle involved in an accident with an uninsured motorist. UMPD is similar to "collision coverage", and is not available to those who purchase "collision coverage".

    Unintentional Error or Omission - Typically in the policy, this will describe the effect upon the policy of an error, omission or misrepresentation of information on your application, or with information presented at the time of a claim. Language may read as follows:

    Any unintentional error or omission in the description of or failure to completely describe, any premises or operations intended to be covered by this Coverage Part will not invalidate or affect coverage for those premises or operations. However, you must report such error or omission to us as soon as practicable after its discovery.