Coverage that provides for replacement of damaged or destroyed property on a new replacement cost basis without any deduction for depreciation. This is equivalent to replacement cost ...
Circumstance that increases the likelihood or probable severity of a loss. For example, the storing of explosives in a home basement is a hazard that increases the probability of an ...
In property and casualty insurance, contract section containing such information as name, description, and location of insured property; name and address of the insured; period a policy is ...
In a mercantile open-stock burglary insurance policy, the dollar amount of coverage as required by the COINSURANCE clause. This dollar amount is the MAXIMUM PROBABLE LOSS (MPL) of ...
Insurance policy in force only after the insurance company approves the application. Today, most companies use the insurability conditional premium receipt. ...
One where an injury or other harm takes time to become known and a claim may be separated from the circumstances that caused it by as many as 25 years or more. Some examples: exposure to ...
The definition for retainer agreement: work for hire contract that provides a client with a fixed number of work-hours from freelancers or lawyers. Even a real estate lawyer uses this type ...
Organization that calculates rates and develops insurance policies for its property and casualty member companies. The suggested rates are used by smaller companies where the loss ...
A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better no worse. ...
You might think, \"Why do I need insurance, I\'m renting?\" Well, even though your landlord probably has an insurance policy on your building, you\'ll need to protect your personal ...
If you own a pet, i\'m sure you\'ve been in a situation where the vet bills have been much higher than expected. If this has happened to you more than once, then you should consider ...
A CD, or Certificate of Deposit, is an investment usually made for a given period of time at a fixed rate of interest. CDs are offered by financial institutions such as banks, and are often ...
You’ve read all about how to stop a lien on your property, which convinced yourself that title insurance is a must. But now you’re wondering how to get title insurance. ...
An annuity is a long-term, interest-paying contract offered through an insurance company or financial institution. An annuity can be \"deferred\" as a means of accumulating income while ...
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