The Carrier Providing Initial Coverage for All Damages Up to the Limits

question 25

Short Answer

The carrier providing initial coverage for all damages up to the limits of the policy is said to be the coverage provider.

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Definitions:

Trust

A fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries.

Implied Trust

A trust formed by the law from the conduct or circumstances of the parties involved, rather than by explicit written agreement.

Created

Brought into existence or formed out of nothing.

Testamentary Capacity

The legal ability of a person to make a valid will, usually involving being of sound mind and of certain age.