Inspection Report
Statement prepared by an inspection bureau for a life or health insurance company that summarizes information about an applicant for a policy, including financial standing, morals, physical condition, habits, and other information. This report is used by a company underwriter in evaluating an application for insurance; that is, whether the company should classify an individual as a standard risk at standard insurance rates, as a substandard risk (charged an extra rate), or as uninsurable.
Popular Insurance Terms
Clause in legal contracts that excuses a given party to the contract from liability for unintentional negligent acts and/or omissions. ...
Medical check of an applicant for life or health insurance by a medical professional who is not a physician. ...
Several different types of perils covered under one policy. ...
Provision of federal legislation that prohibits an employer from making contributions (premium payments) directly to a union for the purchase of employee benefits; instead the contributions ...
Social insurance that provides benefits to temporarily disabled workers in a few states. Five states require employers to pay cash benefits if workers are disabled. They are Rhode Island, ...
Hospital charges in addition to room and board. Miscellaneous expenses are covered under a basic hospital plan, with the limits of coverage expressed either as a multiple of the daily ...
Property damage, accident, or injury resulting from vagaries of nature, including tornadoes, hurricanes, and floods. ...
Break in commercial activities due to the occurrence of a peril. Coverage against business interruption by various named perils can be obtained through insurance. ...
Re-registration of existing shares when there is any change in the name of the owner (s). Such a circumstance may occur when the owner (s) of the shares gives these shares to another ...
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