Political Risk Insurance: Contingency Insurance
Insurance coverage that protects a contractor or other type of business providing a service for expenses incurred in the event a contract is not ratified by a foreign government. For example, if a contractor decides to start building a structure prior to the foreign government ratifying the agreement and the ratification fails, the contractor would be indemnified for expenses incurred.
Popular Insurance Terms
Coverage for extra expenses associated with the reconstruction of a damaged or destroyed building where zoning requirements mandate more costly construction material. This endorsement is ...
Insurance policy under which premiums are past due but the grace period has not expired. ...
Form of deferred annuity; a life insurance policy that usually guarantees from 120 to 180 monthly income payments to the annuitant at retirement. If the annuitant dies during the deferral ...
Coverage that provides for the indemnification of a salesperson for the amount of his or her lost commission on a product to be sold that cannot be produced because of damage incurred by ...
Attachment to an insurance policy to complete its coverage. For example, the Standard Fire Policy must have certain forms attached for it to provide the coverage desired. ...
Statutory liabilities minus the interest MAINTENANCE RESERVE minus the ASSET VALUATION RESERVE. ...
Adjustment in property insurance to reflect increased construction costs. ...
each individual has an unlimited insurable interest in his or her own life, and therefore can select anyone as a beneficiary. parent and child, husband and wife, brother and sister have an ...
Coverage for an insured who unknowingly accepts forged checks. ...
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