Allied Lines
Property insurance closely associated with fire insurance and usually purchased in conjunction with a Standard Fire Policy. Allied lines include data processing insurance, demolition INSURANCE, EARTHQUAKE INSURANCE, INCREASED COST OF CONSTRUCTION CLAUSE, RADIOACTIVE CONTAMINATION INSURANCE, SPRINKLER LEAKAGE INSURANCE, STANDING TIMBER INSURANCE, VANDALISM AND MALICIOUS MISCHIEF INSURANCE, WATER DAMAGE INSURANCE.
Popular Insurance Terms
Court-appointed or commissioner of insurance-appointed custodian to manage the affairs of an insurance company whose management is deemed unable to manage that company in a proper fashion. ...
Specific powers that a prospective insured believes the insurance company has granted to its agent. For example, if the insurance company has furnished the agent a rate book, application ...
Number of individuals exposed to the risk of illness, sickness, and disease at each age, and the actual number of individuals who incurred an illness, sickness, and disease at each age. ...
Additions of new entrants into an employee benefit insurance plan. ...
Percentage of total assets set aside by an insurance company to provide for unexpected losses. In general, a minimum of a 5% surplus ratio (5 cents in reserve for each $1 of assets) is ...
Coverage in which the face amount of a life insurance policy declines by a stipulated amount over a period of time. For example, the initial face amount of a $100,000 decreasing term policy ...
Method of terminating a split dollar life insurance policy in which the company transfers its interest in the life insurance policy to the insured employee. Through such a transfer, the ...
Legally binding unilateral agreement between an insured and an insurance company to indemnify the buyer of a contract under specified circumstances. In exchange for premium payment (s) the ...
Coverage for personal property of a manufacturer on an all risks basis when that property is off the manufacturer's premises. ...
Comments for Allied Lines
Is allied lines insurance sold mostly to businesses or individuals?
Nov 01, 2018 10:39:32Hey, Jerry
It can be sold to both, but commercial real estate buys it more due to the value of the personal property within the real estate. For instance: documents and products in the inventory can get to million dollars worth of damage, while furniture would typically be in the thousands.
Thanks for reaching out!
Nov 02, 2018 14:50:15Have a question or comment?
We're here to help.