What term describes other insurance that is written on the same risk but not on the same coverage basis?

The term that describes other insurance written on the same risk but not on the same coverage basis is known as nonconcurrency. This occurs when two or more insurance policies cover the same risk but have different terms, conditions, or coverage limits. Because they do not align in coverage, they can lead to gaps in protection or overlapping coverage, depending on how the policies are structured and the specific terms outlined in each policy.

Nonconcurrency is particularly important in property insurance, as differing coverage types, such as one policy covering fire damage while another covers theft, can create complexities in claims processing and risk management. Recognizing nonconcurrency helps policyholders ensure they have adequate and comprehensive coverage options tailored to their needs.

The other terms refer to different aspects of insurance. For instance, pro rata refers to a method of distributing losses based on the proportionate coverage of each insurer involved. Contribution by equal shares dictates that each insurance policy contributes an equal amount to the loss until the total loss is reached or one policy's limit is exhausted. Primary and excess describes a relationship in which one policy is considered the main source of coverage while others serve as supplementary coverage in excess of the primary policy limits. Understanding these terms is essential for navigating complex insurance situations, but they do not