Occurrence
Event that results in bodily injury and/or property damage to a third party. A clause that is common to most liability insurance policies stipulates that all bodily injuries and/or property damages resulting from the same general conditions are interpreted as resulting from one occurrence and thus subject to the policy limits per occurrence.
Popular Insurance Terms
Arrangement in which an unused deduction (credit carryover) to a profit sharing plan can be added to an employer's future contribution on a tax deductible basis. It occurs when the ...
Contract guaranteeing that a person licensed by a city, county, or state agency will perform activities for which the bond was granted, according to the regulations governing the license. ...
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Reinsurance clause that stipulates that the reinsurer will be subject to the same fate as the ceding company. ...
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Peril that occurs when personal property of two or more people is mixed to such an extent that any one owner can no longer identify his or her property. ...
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