Open Form (reporting Form)
Single policy covering all insurable property of specified type s) at all locations of an insured business. The form is appropriate for the business that has several locations. There are several different types of reporting forms: Form ML.1 insures businesses with substantial risk exposures on a multiple location basis; Form ML.2 insures businesses with a distilled spirits risk exposure; and Form A insures businesses with relatively small risk exposures, at either a single or multiple locations.
Popular Insurance Terms
Life insurance on the life of a child. ...
Endorsement to the personal automobile policy (pap) that insures other motorized vehicles such as golf carts and motorcycles owned by a policyholder. ...
Policy covering an insured's property at several different locations. This coverage is used by business firms that have several locations and may move property from location to location. ...
In group insurance, adjustment of premiums, because of reduced expenses due to economy of scale. Group Me premiums are subject to negotiation and modification because of administrative ...
Federal social insurance program that provides monthly benefits to qualified retirees, their dependents, their survivors, and, in some cases, disabled workers. OASDHI was created by the ...
Retirement vehicle permitted under section 403 (b) plan of the U.S. Internal Revenue Code for employees of a public school system or a qualified charitable organization. Under such an ...
Adaptation of a standard insurance contract for special needs. Standard forms do not cover all needs but they can be adapted by an underwriter, broker, or an insurance company at the ...
Taking over of an insurance company's assets by the State Insurance Commissioner when examination of the annual report reveals that the company is in substantial financial difficulty. The ...
Trade association of property and casualty insurance companies that do not have membership in a rating bureau. These companies do not follow standard rates and forms authored by a rating ...
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