Same as term Material Misrepresentation: falsification of a material fact in such a manner that, had the insurance company known the truth, it would not have insured the risk. A material ...
Protection for a mortgagee guaranteeing that the mortgagor will complete construction. The mortgagee (such as a savings and loan association) lends money to the mortgagor (the owner of the ...
Coverage for railroad equipment, liability of a railroad for damaging another railroad's equipment, or the damage to goods under its care, custody, and control. Coverage is provided on an ...
Location that is different from an insured's home or place of business. Under the standard homeowners insurance policy, the property of the insured is covered off premises; for example, if ...
Type of benefit in which an employee obtains shares of stock in the company, the amount normally determined by the employee's level of compensation. ESOP acts as a leverage tool through ...
Coverage for an insured whose property is damaged or destroyed by an insured peril, or whose negligent acts or omissions damage or destroy another party's property or cause bodily injury to ...
Individual who assigns rights to a benefit. For example, a life insurance policy may be assigned as security for a loan made by the borrower. The policy protects the collateral creditor ...
Program enacted in 1965 under Title XVIII of the Social Security Amendments of 1965 to provide medical benefits to those 65 and over. The program has two parts: Part A, Hospital Insurance, ...
Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of the vehicle and actual cash value of it ...
Commercial insurance is designed to help protect many of the risks your business can face, including:
damage or destruction to your business vehicles
certain liability exposures ...
Owning a condominium puts you in a unique position. Unique because you have both common and individual insurance needs. Odds are, your condominium association has an insurance policy for ...
Insurance will cover any homemade or custom-built system, but you will need to have proof of ownership of each of the individual parts within the computer to file a claim. ...
If you own a pet, i\'m sure you\'ve been in a situation where the vet bills have been much higher than expected. If this has happened to you more than once, then you should consider ...
An annuity is a long-term, interest-paying contract offered through an insurance company or financial institution. An annuity can be \"deferred\" as a means of accumulating income while ...
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