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
Value of a foregone opportunity, one rejected in favor of a presumably better opportunity. For example, investment of a sum into a mutual fund instead of a variable annuity with a ...
Effective proprietor of a business. Under the tax reform act of 1986, a uniform accrual rule prevents a qualified pension plan from being weighted in favor of the substantial owner of the ...
Same as term cash surrender value: money the policyowner is entitled to receive from the insurance company upon surrendering a life insurance policy with cash value. The sum is the cash ...
Means of setting life insurance reserves based on expected mortality rates as reflected in a mortality table. ...
Addition to a workers compensation insurance policy to cover payments to injured employees who are not covered by a state's workers compensation law. This endorsement provides employees who ...
Change in the nature of an employer or other organization that sponsors a qualified pension plan. A qualified plan must guarantee vested benefits due to participants in the event of a ...
Risk that premiums and reinsurance, as well as other receivable instruments, will not be collected. ...
Employee's right to transfer pension benefit credits from a former employer to a current employer. ...
Automatic right of an insured to renew a policy until a given date or age except under stated conditions. It is extremely important for the purchaser to review the conditions for renewal in ...
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?
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