Extra Expense Insurance
Definition of "Extra expense insurance"
Form that covers exposures associated with efforts to operate a business that is damaged by a peril such as fire. For example, a special electrical generator may have to be purchased in the event of a long-range loss of electricity if the business is to continue to operate.
Popular Insurance Terms
Section of the Internal Revenue Code that provides for the taking of the proceeds from one life insurance policy or annuity and the reinvesting of these proceeds immediately in another life ...
Property to be insured, or that is insured, which is located within the specific geographical region falling under the auspices of the fire department. ...
Interest rate credited on three-month United States Treasury bills. ...
Common element in property insurance that excludes electrical damage or destruction of an appliance unless the damage is caused by a resultant fire. ...
Life insurance policy option under which the dividends that have accrued may be applied to mature the policy as endowment insurance. ...
Same as term: engineering approach; human approach ...
Variable-rate bonds whose coupon and value increases as interest rates decrease. ...
worth of each accumulation unit at the end of each valuation period for a variable annuity. This value is similar to that of the net asset value for a mutual fund. ...
First historical mortality table used for the calculation of premium rates for group annuities. This table was subsequently replaced by the group annuity table, 1971. ...
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