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
Property damage, accident, or injury resulting from vagaries of nature, including tornadoes, hurricanes, and floods. ...
Describing a risk whose probability of loss is less than the norm or the standard expectation of loss for that underwriting classification. ...
Attachment to a property insurance policy that automatically adjusts its coverage according to the construction cost index in a community. This endorsement is necessary in a property ...
Insurance company's total premium income plus investment income. ...
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Agreement among insurance companies through which a multinational employer is permitted to purchase employee benefits coverage's for two or more of its overseas subsidiaries under a single ...
Amount of uncertainty in a given situation. Probability that actual experience will be different from what is expected. ...
Plan that combines the simplicity and flexibility of the traditional profit-sharing plan with the best features of the defined benefit plan and the target benefit plan. By age-weighing the ...
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