Definition of "Assault"
Threatening act, physical and/or verbal, which causes a person to reasonably fear for life or safety. For example, if a boxing champion said he was going to hit someone, this would probably cause a reasonably prudent person to fear serious bodily injury. An insured's liability for assault is excluded from all standard liability policies such as the special multi peril insurance (SMP) and the homeowners insurance policy.
Popular Insurance Terms
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Historic insignia representing evidence of coverage placed on property insured by a particular insurance company. If the property on fire did not have the company's fire mark, its private ...
Workers' premiums in a contributory employee benefit plan. ...
Undiscounted loss reserves that must be maintained by property and casualty insurance companies in an adequate amount to provide for the payment of the settlement value of the outstanding ...
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Amount of the loss absorbed by an insurance company after deducting any reinsurance applicable to the loss, as well as subrogation and ABANDONMENT AND SALVAGE rights. ...
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Written statements on a form by a prospective insured about himself, including assets and other personal information. These statements and additional information, such as a medical report, ...
Coverage for an insured when negligent acts and/or omissions result in bodily injury and/or property damage on the premises of a business, when someone is injured as the result of using the ...
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