Hazard Increase Resulting In Suspension Or Exclusion Of Coverage
Definition of "Hazard increase resulting in suspension or exclusion of coverage"
Provision commonly found in fire insurance contracts. If the insured knows that a hazard is increased, most property contracts permit the insurance company to suspend or terminate coverage. For example, manufacture of drugs in the home would give the insurance company the right to invoke this clause if it could show that the manufacturing process increases the probability of fire.
Popular Insurance Terms
Plan to which contributions are not being made, but which has not been formally terminated. The freezing of a keogh plan (hr-10) may occur in the following circumstances: self-employed ...
Life and health insurance business for which the prospective insured or insureds have signed the application, completed the medical examination, and paid the required premium. ...
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unlawful application of force to another's person; physical striking of another without permission. ...
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Premiums paid out of funds borrowed from the cash value of a life insurance policy. ...
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