Short-Tail definition
Short-Tail means that the insurance obligations are settled relatively quickly and do not drag on for decades, as is the norm for, for example, certain liability policies.
Short-Tail means Liabilities arising out of coverage issued by the Reinsured and classified by the Reinsured as providing coverage, either in whole or in part, for the following: (a) commercial property; (b) “stand alone” accident and health insurance; (c) Homeowners (real and personal property coverage portion of package Policies); (d) Marine Cargo; (e) commercial auto physical damage; (f) warranty; (g) Inland Marine; and (h) Automobile physical damage (both personal and commercial). For the sake of clarity, “Short Tail” (i) refers to the reserves listed under the identification entitled “Short-tail” in Exhibit C and (ii) as also set forth in the Data Room Reports and the Materials.