Parcel Post Insurance
Coverage for a shipper (owner/sender) for property damage or loss of goods in transit through the post office. A trip transit insurance policy specifically excludes coverages on property sent through the post office since that agency is not a common carrier and does not incur the liability of a common carrier. This is why additional coverage must be purchased in the form of parcel post insurance, even if a business has a trip transit insurance policy. Parcel post insurance is sold by the post office in the form of a certificate, which covers property in its custody. It is issued on an all risks basis, subject to exclusions of spoilage, and financial instruments such as bills, currency, deeds, notes, and securities.
Popular Insurance Terms
Type of flexible spending account. ...
Coverage under which the face value, premiums, and plan of insurance can be changed at the discretion of the policy owner in the following manner, without additional policies being issued: ...
Coverage for numerous perils such as that found in the broad form personal theft insurance. ...
Component of necessary coverage determined by the "needs approach" to life insurance for a family. It is intended to cover last-minute expenses as well as those that surface after the death ...
Payment to an insurance agent in addition to commissions. Expense allowances, that differ from company to company, vary with the amount of business agents place with that company and the ...
Table that replaced the standard annuity table, 1937. It reflected the fact that more people were living longer in its statistics. This table was subsequently replaced by the individual ...
Requirement that the combination of medicare and the employer's plan can not be greater than the amount the employer's plan would pay without Medicare. ...
Coverage on real property written to have no time limit. A single deposit premium pays for insurance for the life of the risk. The insurer earns enough investment income on the deposit to ...
Payments from an employee's employee benefit insurance plan that can be rolled over to an individual retirement account (IRA) or to another plan maintained by the employer that accepts ...
Have a question or comment?
We're here to help.