Definition of "Invitee"
Person who is expressly or by implication asked to visit property in the possession, care, or control of another person. The inviter has the obligation to render his or her property safe for the visit of the invitee. Liability insurance is designed to protect an insured in the event that his or her negligent acts or omissions result in bodily injury to the invitee.
Popular Insurance Terms
(coinsurance) plan where a portion of medical expenses are paid by an insured. Some health insurance policies provide that the insured shares expenses with the insurer according to a ...
Requiring assets and liabilities of an insurance company to go up or down together on a proportional basis. The duration of the asset and liability should be approximately the same. For ...
Representation of ownership rights such as stocks. ...
Loss caused by two or more perils. A certain amount of controversy exists when one of the perils is insured and the other peril is excluded from coverage. Some courts are beginning to find ...
Intense combustion resulting in a flame or glow. In order for the fire peril to be covered under property insurance, the fire must be a hostile fire, not a friendly fire. ...
Exceptions to coverage. There is no obligation for an insurance company to pay a claim if: the loss is not covered by a policy, or a particular person is not included in the definition of ...
Smallest face amount of life insurance that an insurance company will write on any one person. ...
Coverage protecting future profits to be earned from a manufacturer's inventory. A manufacturer may lose all or part of an inventory of finished goods due to a peril such as fire and still ...
Coverage that pays a fixed dollar amount of interest at regular intervals. ...
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