Manufacturers And Contractors Liability Insurance
Coverage for liability exposures that result from manufacturing and/or contracting operations in process on a manufacturer's premises (all locations of ongoing operations) or, in the case of the contractor, off-premises operation at a construction site. Excluded are activities of independent contractors, damage to property by explosion, collapse, and underground property damage. Additional coverages apply to the acts of the insured's employees when constructing new structures, demolishing old structures, and changing the size and/or location of existing structures.
Popular Insurance Terms
Method of selling insurance directly to insureds through a company's own employees, through the mail, or at airport booths. The company uses this method of distribution rather than ...
Insurance for private pleasure boats. Coverage is not standard, but is generally broken down into insurance for yachts, including sailboats; boats with inboard motors under marine ...
Same as term Line Limit: maximum amount of a specified type of insurance coverage, according to underwriting guidelines, that an insurance company feels it can safely underwrite on a ...
Same as term Convention Examination: audit of the convention blank (NAIC Statement Blank) every third year as to all of the financial activities of a company; company claim practices; and ...
Same as term Occurrence Basis: coverage, in liability insurance, for harm suffered by others because of events occurring while a policy is in force, regardless of when a claim is actually ...
Legislation that redefined life insurance and raised taxes on life insurance companies. Among the provisions were new rules for some life insurance products, including a definition of ...
Includes rate of return, how long the annuity's interest rate is guaranteed, loads (front, middle and back), financial ranking of the insurance company offering the annuity, the monthly ...
Gross yield minus total costs (expenses). ...
Phrase used to describe a method of annuity payout that guarantees a specified number of years, regardless of whether an annuitant remains alive. ...
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