Livestock Floater
Definition of "Livestock floater"
Standard Commercial Property Floater form covering death or damage to livestock as the result of insured perils such as fire, lightning, explosion, smoke, wind, hail, aircraft, earth quake, theft, flood, collapse of bridges, collision, or overturn of a vehicle used in transporting the livestock from the point of destination. Some insurance companies also cover attacks by domestic or wild animals, drowning, and accidental shooting. Common exclusions include illegal acts, confiscation by the order of a government authority, loss due to quarantine, war, loss due to sleet or snow, and loss due to the acceptance by the owner of a check covered by insufficient funds.
Popular Insurance Terms
Subsidence is a term used in geology, engineering and surveying to denote the motion of a surface (usually, the earth\'s surface) downwards relative to a datum such as sea-level. In ...
Method of determining whether or not coverage is available for a specific claim. If a claim arises out of an event during the period when a policy is in force, the insurance company is ...
Bonds that are sold at discount from their maturity value with the interest compounding and paid at the bond's maturity date. Even though these bonds do not pay interest until maturity, the ...
Same as term Adjuster: individual employed by a property and casualty insurance company to settle on its behalf claims brought by insureds. The adjuster evaluates the merits of each claim ...
Medical check of an applicant for life or health insurance by a medical professional who is not a physician. ...
Person, business, or organization specified as the insured (s) in a property or liability insurance policy. In some instances, the policy provides broader coverage to persons other than ...
Same as term Common Disaster Clause: wording in life insurance policies to determine the order of deaths whenthe insured and the beneficiary die in the same accident. For example, if the ...
Modification in premiums, reserves, and other values to reflect actual loss experience and expenses and expected benefits to be paid. ...
Method of valuing a reserve under which a life insurance policy, from an actual point of view, combines one-year term insurance and a one-year deferred plan. Here the net premium is ...
Have a question or comment?
We're here to help.