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
Person (the transferee to whom the property is transferred) who is at least two generations younger than the person (the transferor) who is transferring the property. This type of property ...
Method used to determine the policyholder's return on premiums paid into a life insurance policy. This method is illustrated in two ways:.Surrender of Policy Approach calculation of the ...
Section in some property insurance contracts that eliminates further coverage for buildings after they have collapsed from causes other than fire or explosion. For example, fire coverage ...
Dividends of a participating life insurance policy deemed by the Internal Revenue Service to be a return of a portion of premiums and thus not subject to taxation. ...
Coverage for dental services under a group or individual policy. ...
New rule entitled "Accounting for Certain Investments in Debt and Equity Securities," which requires most fixed maturity investments to be listed on the INSURANCE COMPANY'S FINANCIAL ...
The definition of contract of adhesion or, as it is also known, an adhesion contract is explained as an agreement between two parties where one party has more power than the other when the ...
Same as term Blanket Position Bond: covers all employees of a business on a blanket basis with the maximumlimit of coverage applied separately to each employee guilty of a crime. ...
Hazard covered under catastrophe reinsurance. This form of excess of loss reinsurance protects the ceding company for loss above the retention limit caused by multiple catastrophic events. ...
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