Department Store Insurance Floater
Definition of "Department store insurance floater"
Coverage for items of property being delivered to a customer. The means of transportation covered include such common carriers as aircraft, railroads, trucks, express carrier, and other variations, as well as the department store's trucks and other delivery vehicles. Coverage can be purchased on an all risks basis subject to excluded perils such as war and nuclear disaster. Coverage applies on a blanket basis meaning that all locations of points of delivery are covered.
Popular Insurance Terms
Time at which life insurance death proceeds or endowments are paid, either at the death of an insured or at the end of the endowment period. ...
Fronted program by the insured acquires a licensed insurance company to issue insurance policies. ...
Denial of coverage for various perils (such as war, flood); hazards (storing dynamite in the home, thereby increasing the chance of loss); property (such as pets); and locations. These are ...
Insurance company's growth rate of adjusted surplus divided by its adjusted liabilities. The greater this ratio, the more financially sound the insurance company, as the surplus would be ...
Same as term Graduated Life Table: mortality table that reflects irregularities from age to age due to chance fluctuations in the sequence of the rates of mortality. The rates of death as ...
Appreciation in the unsold assets' value. When assets are sold, their capital gain (loss) is shown on the insurance company's income statement; any unrealized gain or loss is not included ...
Organization that develops and publishes educational material and administers national examinations in supervisory management, general insurance, claims, management, risk management, ...
Method of accessing capital by the insurance industry in order to hedge against a future catastrophic occurrence. The mechanism works as follows: Primary insurance company AJAX pays a ...
Yearly renewable term (YRT) life insurance under which an insured can usually re-apply for term insurance every fifth year at a lower premium than the guaranteed renewal rate. If the ...
Have a question or comment?
We're here to help.