Inland Marine Insurance (Transportation Insurance)
Coverage for property damage or destruction of an insured's property and liability exposure of an insured for damage or destruction of someone else's property under his or her care, custody, or control. The insured (shipper) needs this insurance because the carrier (who can also be the insured and purchase inland marine insurance) may be found not at fault for damage to a property; or the carrier may not have any insurance or adequate insurance.
Popular Insurance Terms
Table used in health insurance premium rate calculations that depicts the probability that a claim will continue by time and amount. ...
Circumstance that increases the likelihood or probable severity of a loss. For example, the storing of explosives in a home basement is a hazard that increases the probability of an ...
Federal act composed of amendments to the Product Liability Risk Retention Act of 1981 and enacted to make the procedures more efficient for creating risk retention groups (capitalized, ...
Same as term Contract Holder: in insurance, individual with rightful possession of an insurance policy, usually the policyowner. ...
Agents' records showing when clients' policies expire. ...
pool that contains various reinsurance companies with each sharing reinsurance contracts on a pro rata basis as they are submitted to the pool. market that operates much like the New York ...
Coverage on an all risks basis for fur garments belonging to customers of a furrier. ...
Difference in the amount of losses between the beginning and end of a time period. ...
Exception in general liability policies for all expenses associated with product recall. In recent years, there have been increasing instances of federal recalls. In addition, there have ...
Have a question or comment?
We're here to help.