Builders Risks Forms
Definition of "Builders risks forms"
Types of contracts that insure building contractors for damage to property under construction. The completed value form requires a 100% coinsurance because insurance carried must equal the completed value of the structure. The reporting form allows coverage to be carried according to the stage of completion of the structure. Perils insured against are fire, lightning, vandalism, malicious mischief, riot and civil commotion, smoke, sprinkler leakage, water damage, windstorm, and hail.
Popular Insurance Terms
Break in commercial activities due to the occurrence of a peril. Coverage against business interruption by various named perils can be obtained through insurance. ...
Financial instruments whose principal and income are not established in advance according to contractual terms set forth in the financial instruments document. Both the principal and income ...
Federal law comparable to state workers compensation statutes setting out liability of railroads for work-related injuries or death of their employees. Railroad employees are not covered by ...
Policies that have been sold to and paid for by an insured, but not yet delivered to the insured. ...
Same as term Excess of Loss Reinsurance: method whereby an insurer pays the amount of each claim for each risk up to a limit determined in advance and the re-insurer pays the amount of the ...
Bonds that are sold at discount from their maturity value with the interest compounding and paid at the bond's maturity date. Even though these bonds do not pay interest until maturity, the ...
To transfer a risk from an insurance company to a reinsurance company. ...
Individual prohibited under the employee retirement income security act of 1974 (erisa) from conducting transactions with a trust plan. The prohibition is intended to prevent a conflict of ...
Effort by an individual to continue to receive disability income benefits by taking a continuing sickness or injury. ...
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