Commercial Credit Insurance
Coverage for an insured firm if its business debtors fail to pay their obligations. The insured firm can be a manufacturer or a service organization but it cannot sell its products or service on a retail level to be covered under commercial credit insurance. Under this form of insurance, the insured firm assumes the expected loss up to the retention amount and the insurance company pays the excess losses above that amount, up to the limits of the credit insurance policy.
Popular Insurance Terms
Life insurance: Bonds most state regulations permit life insurance company investments in debentures, mortgage bonds, and blue chip corporate bonds. Stocks(a) preferred stock investment ...
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Inability of the insured to perform one or more of the important daily duties of that insured's occupation. The income payment to the insured is reduced from that of total disability. ...
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coverage issued to a creditor on the life of a debtor so that if the debtor becomes disabled, the insurance policy pays the balance of the debt to the creditor. ...
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Right that has a limited time in duration for an individual to receive the income generated by assets owned by another individual. ...
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Adjustment in property insurance to reflect increased construction costs. ...
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