Permissive User
Person who uses personal property such as an automobile with permission of an owner. For example, for insurance purposes, someone who uses an automobile with the owner's permission would be covered by the latter's personal automobile policy (pap). On the other hand, the owner of property may not be responsible for a trespasser.
Popular Insurance Terms
Law that established rules and regulations to govern private pension plans, including vesting requirements, funding mechanisms, and general plan design and descriptions. For example, three ...
French industrialist whose thesis is that all business activities revolve around six areas: technical (production), commercial (buying and selling), financing (capital employment), ...
Termination of a contractual obligation for immediate performance. For example, under the homeowners insurance policy, if the insurer refuses to pay a claim, the insured (if not satisfied ...
Corporate or government security that pays interest and obligates the corporation or government agency to pay that interest at the end of specific time intervals, and to pay the principal ...
Total of the insurance company's mortgages whose interest has not been paid for at least three months. These are mortgages upon which the insurance company is in the process of foreclosing, ...
Insurance sold by a stock insurance company that is usually in the form of nonparticipating insurance. ...
Insurance company that restricts its underwriting of risks to one state. ...
Corporations that have elected to be taxed according to the provisions of Sub chapter S of the Internal Revenue Code. In order to qualify under these provisions, the corporation can have ...
Homeowners policy to cover the owner of a townhouse. ...
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