Which of the following terms refers to other insurance written on the same risk, but not on the same coverage basis?

The term "nonconcurrency" specifically refers to a situation where there are multiple insurance policies covering the same risk, but these policies do not provide the same type of coverage or are not aligned in their terms. This can lead to gaps in protection or potential overlap, as each policy may have different exclusions, limits, or scopes of coverage.

In the context of property insurance, nonconcurrency can create complexities, especially when a loss occurs. For example, if one policy covers fire damage while another covers theft but not fire, a claim might not be fully covered by either policy if the incident involves both types of losses. This situation underscores the importance of ensuring that policies are coordinated to avoid coverage disparities.

Understanding nonconcurrency is crucial for policyholders and insurance professionals alike because it helps in assessing the adequacy of coverage and making informed decisions about purchasing additional insurance or combining policies effectively.