Defeasance

Premium charged for an insurance policy whose coverage does not vary according to the insured loss experience. The premium is calculated either on a specified rating basis or on a ...

Provision in commercial property coverage under which an insured must report the value of an insured property at periodic intervals in order to preserve coverage up to values reported. In ...

Same as term: generally accepted accounting principles (GAAP): ...

Extra layer of life insurance coverage. This term is often applied to double indemnity. For example, some life insurance policies provide a death benefit of a multiple of the face value if ...

Arguments composed of assumption of risk, contributory negligence, and fellow servant rule. ...

Same as term Conditional Receipt: evidence of a temporary contract obliging a life or health insurance company to provide coverage as long as a premium accompanies an acceptable ...

Coverage for liability exposure resulting from the activities of a business; includes: direct liability acts of the business resulting in damage or destruction of another party's property ...

Coverage that is excluded under commercial general liability insurance (comprehensive general liability insurance) for the loss of use of undamaged tangible real or personal property as the ...

First, stay calm. Freaking out won’t help anyone. Whenever there’s an accident everyone gets hyper and tense; being calm will be a blessing to everyone. Plus; it’s your ...

A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better no worse. ...

Universal life insurance provides death benefits and income taxe-deferred savings to help you meet your financial goals while you are living. It has many flexible features and benefits that ...

The short and simple answer is not quite. When you purchase or own a house, you need to have homeowners insurance for that property. A homeowners insurance covers potential losses and/or ...

An HMO provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium. A PPO differs from an HMO in that the PPO has no separate physical ...

When you’re going through the home buying process, especially if it’s your first time, it may be easy to get lost through the paperwork, legal terms, and additional things you ...

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the proper insurance protection. Consider the ...

Liability Coverage: In case you're sued as a result of an auto accident. Collision Coverage: Helps cover physical damage to your vehicle due to collision or upset. Comprehensive Coverage: ...