Change In Occupancy Or Use Clause
Definition of "Change in occupancy or use clause"
Condition in which the occupancy or the purposes for which the premises are being used as described in the insurance policy change so as to result in an increased risk. The policy is void unless prior notice is furnished to the insurance company. Once the company receives such notification, the company can either cancel the policy, or apply a surcharge to the premium to reflect this increased risk.
Popular Insurance Terms
Federal law passed in 1920 that allows any seaman incurring bodily injury as the result of the performance of one or more functions of the job to bring a suit for damages against the ...
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Injury covered in a health insurance policy that is isolated from any previous injury. ...
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