Accident Insurance

Summary

This practice note discusses accident insurance, which provides coverage for an unforeseen bodily injury. Accident insurance, as the term is used in this practice note, refers to a stand-alone insurance product or a rider to a broader product that provides defined benefits for bodily injury. This kind of policy may also contain benefits payable for sickness in which case it is called an Accident and Sickness Policy. Topics discussed include what constitutes an accident; the difference between accidental means and accidental results; statutory provisions; policy provisions; rates; and premium standards.