Hazard

Clause in the Standard Fire Policy and many other property insurance policies that excepts coverage for losses caused by riot or civil commotion. Coverage for riot and civil commotion can ...

Retrospective rating system with basic, minimum, and maximum premium rates listed in manual tables. Calculation of an individual premium involves adjusting the basic premium for appropriate ...

Excess liability coverage above the limits of a basic business liability insurance policy such as the owners, landlords and tenants liability policy. For example, if a basic policy has a ...

Life insurance company form to be signed by a policyholder who wishes to surrender a policy that has been lost. The signed receipt then becomes evidence that the policy is no longer in ...

Company in which shareholders limit their liability exposure to their percentage of ownership or equity interest in the company. Shareholders' personal assets are protected in the event of ...

Same as term Arbitration Clause: rovision in a property insurance policy to the effect that in the event the insured and insurer cannot agree on the amount of a claim settlement, each ...

Proof of death of the insured form filed with the insurance company establishing the rights of the beneficiary to the death benefit. ...

Effort to keep life insurance policies from lapsing. Many life insurance companies have conservation officers who contact lapsing policy owners explaining the benefits of keeping their ...

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 ...