Collision Damage Waiver
Special property damage coverage purchased by an individual renting an automobile under which the rental company waives any right to recover property damage to the automobile from that individual, regardless of who is at fault. A significant fee is paid by the individual to the rental company for this waiver for coverage that may already be provided by a personal automobile policy (PAP).
Popular Insurance Terms
Early type of no-fault automobile insurance developed by two law professors, Robert Keeton and Jeffrey O'Connell. Its basic premise is that for many accidents it is impossible to place the ...
Provisions added to an original insurance policy that alter or modify benefits and coverages of the contract. For example, a homeowners insurance policy can be endorsed to cover a ...
Process of the continual reinsurance of a ceding company's portfolio of insurance policies. All premiums that have been ceded become earned premiums. ...
Policy used to provide the funds for buy and sell agreements under which an income payment or a series of income payments is paid to the buyer of the disabled partner's interest contained ...
Insurance coverage that protects a contractor or other type of business providing a service for expenses incurred in the event a contract is not ratified by a foreign government. For ...
Allocation of funds in a retirement plan. ...
Person who has been authorized by the insurance company to pay a loss (s) incurred by the insured. ...
Acts or omissions that result in suits against an individual and/or residents of the individual's household for actual or imagined bodily injury and/or property damage to a third party. ...
Frequency with which employees resign, are fired, or retire from a company, usually computed as the percentage, of an organization's employees at the beginning of a calendar year. The ...
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