Aviation Insurance
Combination of property insurance on the hull of an airplane and liability insurance in the following manner:
- property coverage provided on an ALL RISKS basis or on a specified perils basis for the hull, autopilots, instruments, radios, and any other equipment in the airplane as described in the policy;
- liability coverage provided in the event that the insured's negligent acts and/or omissions result in bodily injury and/or property damage to passengers and individuals who are not passengers.
Popular Insurance Terms
Mistake made during the manufacturing process of a product that results in an inherent defect in the product. This mistake is covered under products and completed operations insurance. ...
Clause in some current ASSUMPTION WHOLE LIFE INSURANCE policies Such as UNIVERSAL LIFE insurance that allows unscheduled premiums to be paid at any time prior to the policy's maturity date, ...
Basis for calculating life insurance premiums and benefits using current interest and mortality rates, rather than historic rates. Current assumptions are critical to interest-sensitive ...
Maximum sum of money that the insurance company will pay, during the time interval that the product liability insurance coverage is in effect, for all product liability-related claims ...
Reinsurance ceded to an insurance company that is a non admitted insurer. ...
One of two bureaus that writes forms and files standard rates for inland marine insurance. The other is the inland marine insurance bureau. ...
Employer, association, labor union, or other group ...
Employee stock ownership plan (ESOP); trust (ESOP) under which an employer received tax credit instead of a tax deduction for contributions. Until passage of the tax reform act of 1986, the ...
Organization that develops and administers educational materials and examinations for the life insurance industry. It awards the fellow, life management institute (FLMI) designation to ...
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