Nuclear Reaction Exclusion
Clause in most property insurance policies that excepts coverage for loss from a nuclear reaction or radiation, or radioactive contamination. (However, a fire resulting from one of these perils would be covered.) Because of this exclusion, insurer pools have been formed to write coverage for nuclear reactors. In addition, the nuclear regulatory commission is authorized to provide coverage under the price-Anderson act.
Popular Insurance Terms
Coverage for the owner of an airplane in circumstances where use of the owner's premises as an aircraft hangar results in bodily injury or property damage to a third party. Excluded from ...
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Liability insurance coverage for claims arising from acts that occurred before the beginning of the policy period. Policies written on a claims made basis, such as malpractice liability ...
Section of some inland marine insurance {transportation insurance) and many other property insurance policies excluding coverage for damage to shipped goods by vermin such as rats. ...
Organization of inland marine insurance underwriters. ...
Term meaning that an exporter of goods that are damaged or destroyed during international shipment relinquishes responsibility for the damage or destruction once the goods leave the point ...
One who submits a claim for an incurred loss. ...
Record of ordinary policies that a combination agent is responsible for servicing. ...
Method by which each member of an insurance pool shares in each and every risk written by the other members of the pool. ...
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