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
Same as term Contingency reserve: percentage of total surplus retained, in insurance company operations, that serves as a reserve to cover unexpected losses as well as to cover the ...
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 ...
Same as term Civil Damages Awarded: ...
Same as term Application: written statements on a form by a prospective insured about himself, including assets and other personal information. These statements and additional information, ...
Estimated future dividends to be paid by a participating insurance policy. These dividend estimations cannot be part of the policy since they are not guaranteed. They are normally shown in ...
The term proprietary insurer may seem like a tongue-twister and a mind-twister in itself. It kind of is. But what is the definition of a proprietary insurer? A proprietary insurer is a ...
Coverage under a commercial workers compensation policy for situations in which an employee not covered under workers compensation laws could sue for injuries suffered under common law ...
Modification of the major medical insurance policy that provides coverage for the terminating employee who otherwise would not be covered by a health insurance policy. Usually, this ...
Legal authority granting individuals the right to conduct insurance business in a particular state. In many states, agents and brokers must pass a written exam as a prerequisite to being ...
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