Loss Payable Clause

Same as term Fronting: procedure under which the CEDING COMPANY (the primary or fronting company) cedes the risk it has underwritten to its reinsurer with the ceding company retaining none ...

List and description of valuables, to be utilized in the event an insurance claim must be filed. Included should be: a detailed explanation of possessions that are of special value, such as ...

Agreement concerning an insured individual, not the insured's property. A property and casualty insurance contract cannot be assigned, since it follows the insured, not the property. For ...

Choice of beneficiary in which the death benefit of a life insurance policy is retained by the company to be paid as a series of installments of fixed dollar amounts per installment until ...

Length of time required to amortize the excess expenses of acquiring a given group of life insurance policies. In acquiring a policy, a life insurance company may incur expenses (such as ...

Coverage for personal property of a manufacturer on an all risks basis when that property is off the manufacturer's premises. ...

Donation of amount "A," made by donor X to a charity. The charity agrees to pay donor X an amount ("B") for the rest of donor X's life. Since the donation is used to fund an annuity, only a ...

Property, liability, or health coverage that takes precedence when more than one policy covers the same loss. In order to avoid OVER INSURANCE, or paying an insured more than the actual ...

First, stay calm. Freaking out won’t help anyone. Whenever there’s an accident everyone gets hyper and tense; being calm will be a blessing to everyone. Plus; it’s your ...

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- Limit Discussion. Talk only with the ...

Insurance will cover any homemade or custom-built system, but you will need to have proof of ownership of each of the individual parts within the computer to file a claim. ...

An annuity is a long-term, interest-paying contract offered through an insurance company or financial institution. An annuity can be \"deferred\" as a means of accumulating income while ...

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 ...

Line of insurance, which included coverages that are designed to protect the insured against a loss of income resulting from or sickness. ...

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily injury to a passenger on your motorcycle ...

Commercial insurance is designed to help protect many of the risks your business can face, including: damage or destruction to your business vehicles certain liability exposures ...