Cotton Insurance
Coverage for property damage by a covered peril to insured cotton during the time period from its weighing in at the gin until its delivery to the buyer. Written either on a specified peril basis or on an all risks basis. The purpose of cotton insurance is much the same as the purchase of insurance by a merchant to protect business inventory prior to its sale, since in many instances the primary asset is the inventory.
Popular Insurance Terms
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Law by which many states attempt to regulate insurers who are unlicensed in those states. With a few notable exceptions, such as re insurers, insurance companies must be licensed in the ...
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