Nationwide Marine Definition
Statement of the types of exposures classified under marine, inland marine or transportation insurance by placing them in the following categories: imports, exports, domestic shipments (goods in transit), communication vehicles (tunnels, bridges, piers, and power transmission lines), personal property floaters (stamp collections, coin collections, fine arts, paintings, musical instruments, silverware, and furs), commercial property floaters (accounts receivable, valuable papers, valuable records, and physicians' and surgeons' instruments). The definition also makes use of the following differences in condition: electronic data, property in a bailee's custody, and property for sale by a dealer (such as musical instruments, cameras, fine arts, and jewelry).
Popular Insurance Terms
Amount of insurance coverage that an insurance company is willing to write on a given category of business. ...
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Modifications of the traditional defined benefit plan in which employees are credited with a specified percentage for each year of recognized service with the employer. Upon termination of ...
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Buy or sell order for security that expires at the end of the trading date on which it was entered if not executed. ...
Policy owner rights under a life insurance policy, including the right to name a new beneficiary at any time and to surrender the policy for its cash value. ...
unlawful application of force to another's person; physical striking of another without permission. ...
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Over a long period of time, the average loss an individual, individuals, or an organization can expect to incur from a particular exposure. ...
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