Accounts Receivable Insurance
Definition of "Accounts receivable insurance"
Coverage when business records are destroyed by an insured peril and the business cannot collect money owed. The policy covers these uncollectible sums plus the expense of record reconstruction and extra collection fees. It does not insure the physical value of the records themselves such as the paper or computer disks and tapes.
Popular Insurance Terms
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Guarantee of payment of the original judgment of a court. When a judgment is appealed, a bond is usually required to guarantee that if the appeal is unsuccessful, funds would be available ...
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difference between the face value of a permanent life insurance policy and its accrued cash value. The pure cost of protection is based on this difference. For example, if the face value ...
Injury that continues after a wound from physical or psychic entry. (The latter is a wound that makes a lasting impression on the mind, especially upon the subconscious mind; for example, a ...
Non qualified plan of deferred compensation whose goal is to compensate key employees without having to provide similar benefits to rank and file employees. The trust is irrevocable, and ...
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