Coverage plan: Executive

English translation: insurance coverage for a businessman?

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Coverage plan: Executive
Selected answer:insurance coverage for a businessman?
Entered by: Empty Whiskey Glass

11:59 Nov 21, 2011
English language (monolingual) [PRO]
Law/Patents - Insurance
English term or phrase: Coverage plan: Executive
Coverage plan: Executive

This is an insurance term. I need to know what 'executive' implies here.
Empty Whiskey Glass
Local time: 04:54
insurance coverage for a businessman?
Explanation:
Normally such terms are used to differentiate the coverage offered by the plan. This one may be directed towards businessmen. But without more context, it is impossible to be more specific.
Selected response from:

Martin Riordan
Brazil
Local time: 22:54
Grading comment
Thanks! In this case this is the correct answer.
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
4insurance for a business covering loss of key personnel
Charles Davis
3insurance coverage for a businessman?
Martin Riordan
1 +1Executive
Michael Wise


Discussion entries: 2





  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
coverage plan: executive
insurance coverage for a businessman?


Explanation:
Normally such terms are used to differentiate the coverage offered by the plan. This one may be directed towards businessmen. But without more context, it is impossible to be more specific.

Martin Riordan
Brazil
Local time: 22:54
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Grading comment
Thanks! In this case this is the correct answer.
Notes to answerer
Asker: Unfortunatelly, there is no much context, this is just a short certificate with the summarized details of the coverage, such as period, premiut, etc.

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21 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
coverage plan: executive
insurance for a business covering loss of key personnel


Explanation:
"Executive" seems to refer to an insurance policy taken out by a business to cover it against the loss of a person crucial to its success and profitability:

"Executive Coverage
Executive Insurance Service
Key Person Insurance

This type of insurance is designed to protect a business in the event of the loss of a person who makes a significant contribution towards the profitability, stability and progress of the business.

Often times, an owner, partner, shareholder, or executive brings a specific expertise to the company. The death or disability of those persons could result in some business interruption in some fashion:"
http://www.winchgroup.com/executive_insurance_services.asp

Charles Davis
Spain
Local time: 03:54
Native speaker of: English
PRO pts in category: 12

Peer comments on this answer (and responses from the answerer)
neutral  Samantha Payn: This type of coverage would usually be referred to as "Key Person" cover. The website you refer to explains in layman's terms how this insurance is applicable to business exucutives.
4 hrs
  -> In this company, "executive cover" means key person insurance. I admit it will not necessarily mean that in all cases.
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1 hr   confidence: Answerer confidence 1/5Answerer confidence 1/5 peer agreement (net): +1
coverage plan: executive
Executive


Explanation:
Could be merely the name of the coverage like "Gold" or "Platinum"or "Premium"

Michael Wise
Spain
Local time: 03:54
Native speaker of: English

Peer comments on this answer (and responses from the answerer)
agree  Samantha Payn: Without further information this would seem the most likely explanation.
3 hrs
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