A quick definition of coverage opinion:

A coverage opinion is a type of opinion that helps determine whether or not an insurance policy will cover a specific situation. It is like asking someone if your insurance will pay for something before you actually use it. A coverage ratio is a way to measure if a company can pay for its debts. A cover-all clause is a part of a contract that includes everything, like a "mother hubbard" clause. Covered-interest arbitrage is a way to make money by taking advantage of different interest rates in different countries. Covered wages are the amount of money a worker earns that is protected by insurance. A cover note is a written statement from an insurance agent that confirms that you have insurance, but it is different from a binder, which is prepared by the insurance company.