Liability exposure, in insurance, associated with three classifications of individuals that may come upon an insured property:
TRESPASSER: individual enters without permission. Generally the insured has no legal obligation to render his or her land safe for the trespasser, but the insured cannot create a death trap.
LICENSEE: individual enters with permission, but there is no mutual profit motive involved. Generally, the insured's only obligation to the licensee is to warn of any hidden dangers of which the insured is aware.
INVITEE: individual expressly or by implication is invited to enter property; there is a mutual profit motive. Generally, the insured must use reasonable care to render his property safe for the invitee's visit.
Unfunded trust that acts as the owner of a life insurance policy. The trust receives a donor's cash payments on a periodic basis, from which the beneficiary of the trust has a specified ...
Automatically extended reporting period of 60 days, during which claims may be made after a claims made basis liability coverage policy has expired. ...
Standard State Valuation and Non forfeiture Law approved by the national association of insurance commissioners (naic) in 1942. This law is named for Alfred N. Guertin, the actuary who ...
Arrangement, often funded by life insurance, to continue an employee's salary in the form of payments to a beneficiary for a certain period after the employee's death. The employer itself ...
Right of the policy owner as listed in a policy. An insured has the right to exercise all privileges and receive all benefits of the policy except when restricted by the right of an ...
You\'ve identified some financial goals and begun to look at potential investments. You\'re on the path to investment success! Putting some plans into motion is an essential step, but it\'s ...
If you own a pet, i\'m sure you\'ve been in a situation where the vet bills have been much higher than expected. If this has happened to you more than once, then you should consider ...
Commercial insurance is designed to help protect many of the risks your business can face, including: damage or destruction to your business vehicles, office equipment, and inventory. Loss ...
An HMO provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium. A PPO differs from an HMO in that the PPO has no separate physical ...
Universal life insurance provides death benefits and income taxe-deferred savings to help you meet your financial goals while you are living. It has many flexible features and benefits that ...
Long-term care refers to a broad range of medical and personal care services designed to assist individuals who have lost their ability to perform activities of daily living without ...
Owning a condominium puts you in a unique position. Unique because you have both common and individual insurance needs. Odds are, your condominium association has an insurance policy for ...
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