Improvements And Betterments Insurance
Tenant's modifications of leased space to fit his particular needs. Up to 10% of contents coverage inside the structure may be applied to insure against damage or destruction of improvements or betterments made by a tenant who does not carry coverage on the structure itself. For example, under the homeowners insurance policy, if the contents of an apartment are insured for $25,000, then $2500 would apply to cabinets that the tenant built into the kitchen.
Popular Insurance Terms
Model state law of the NAIC that requires that the insurance policy contain language that meets a readability test (usually, the Flesch readability test that uses a formula approach to ...
Retirement plan for an individual based on a single contract with a benefit based on current earnings, as if they will remain static until normal retirement age. As the earnings of the plan ...
Complete coverage for hospital and physician charges subject to deductibles and coinsurance. This coverage combines basic medical expense policy and major medical policy. ...
Mechanism used by a fidelity and surety insurance company to spread its liability through reinsurance by issuing a surplus treaty as a first layer of coverage, thereby enabling a cedent to ...
Life insurance contract that combines TERM LIFE INSURANCE with WHOLE LIFE INSURANCE. The term portion of the contract expires after a stipulated time period. If the insured dies during this ...
Business involved in buying and selling securities and mutual funds. ...
Association that represents reinsurance companies as well as insurance companies that do not market marine insurance. LIRMA and the institute of London underwriters share the same facility ...
Individuals other than the crew of a ship who forcefully steal the ship and/or its cargo. This event is an insured peril under ocean marine insurance. ...
First step in the risk management process. The objective is to determine the sources of losses. For example, the profit and loss statement of a business firm not only shows the sources of ...
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