Blanket Form
Definition of "Blanket form"
Same as term Blanket Insurance: single policy on the insured's property for (1) two or more different kinds of property in the same location; (2) same kind of property in two or more locations; (3) two or more different kinds of property in two or more different locations. Blanket coverage is ideal for such businesses as chain stores, all of whose property is covered with no specific limit on each particular property regardless of its location (thereby enabling the business to shift merchandise from store to store). This insurance can (but need not) be written on an ALL RISKS basis subject to exclusions of war, nuclear disaster, and wear and tear.
Popular Insurance Terms
Difference between the yield on earning assets and the cost of interest-bearing liabilities. ...
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Subrogation clauses are used in both the real estate and insurance industries to follow lawful claims against a third party that damaged the property of the insured. If we encounter a ...
Mortality table whose statistics have been adjusted to show expected mortality experience. ...
Restoration of a policy that has lapsed because of nonpayment of premiums after the grace period has expired. In life insurance the reinstatement time period is three years from the premium ...
Provision in commercial property coverage under which an insured must report the value of an insured property at periodic intervals in order to preserve coverage up to values reported. In ...
Direct relationship between the use to which a building is put and the likelihood that it will catch on fire. Occupancy is one of the most important factors in setting fire insurance rates. ...
Plans that are similar to stock appreciation rights (SARS) in that an employee is granted a contractual right by the employer to a stipulated number of units in the business, which is ...
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