Administration Bond
Coverage that guarantees that the executor or administrator of an estate will conduct his or her duties according to the provisions of the will and the legal requirements of the jurisdiction. If dishonest acts by the executor or administrator result in financial loss to the estate, the bond will act as an indemnitor to the estate. This bond is posted by the executor or administrator of the estate.
Popular Insurance Terms
Exchange, in insurance, of an adequate consideration (premium paid by an insured) for the promise of an insurance company to pay benefits in the event the insured incurs a loss. ...
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Comparison of the cost of a solution and the economic benefits that would accrue if the solution is put into effect. This analysis is a prerequisite to the installation of an employee ...
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