Navigation Risk Insurance
Coverage during the operation of a ship for: Property of Ship (ship's hull, tackle, passenger fittings, equipment, stores, boats), and ordnance; Property Damage Liability (ship's owner and/or operator is protected if the ship collides with another, causing damage and loss of use). Excluded is liability to the owner and/or operator for damage to piers, wharves, bodily injury, or loss to the insured ship's hull and/or cargo (this coverage amount is in addition to the amount of coverage on the insured ship's hull and cargo); and Bodily Injury Liability Insurance.
Popular Insurance Terms
Regulation set forth by the national association of insurance commissioners (naic) to govern life insurance sales illustrations. Includes the following major provisions: POLICY OWNER must ...
Part of a marine cargo policy that exempts the policyholder from vouching for the seaworthiness of the vessel. For example, while a purchaser of hull marine insurance warrants that a ship ...
Coverage in which premiums are collected monthly on an ordinary life insurance policy. ...
Provision applied as a rider attached to an ordinary life insurance policy for the purpose of meeting estate planning requirements. When the insured dies, the beneficiary is entitled to ...
Classification of occupations according to the degree of risk inherent in that occupation. ...
Analysis of uncertainty of financial loss. This classification can be according to whether a risk is fundamental, particular, pure, speculative, dynamic, or static. In life insurance the ...
Provision in the Federal Tax Code for favorable treatment of an estate. Under the unlimited marital deduction no federal estate tax is imposed on qualified transfers between a husband and ...
Benefits payable under any insurance policy or annuity contract. ...
Plan under which life insurance is substituted for retirement income. Under the plan, a married individual selects a single life annuity payout from the pension plan, which will generate ...
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