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
Lower limit on the maximum possible interest rate an insurance company will pay. If the market interest rates are below that lower limit, the insurance company pays the lower limit rate. In ...
Clause, generally found in business interruption insurance, that establishes the same indemnification basis as the coinsurance clause. ...
Same as term Insuring agreement: section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...
Length of time required to amortize the excess expenses of acquiring a given group of life insurance policies. In acquiring a policy, a life insurance company may incur expenses (such as ...
Coverage for a contractor's liability for injuries or property damage suffered by third parties as the result of the contractor completing an operation. The contractor must take reasonable ...
The adjuster definition is directly related to insurance and, more exactly, insurance claims. An insurance adjuster is responsible for evaluating insurance claims to determine how liable ...
Coverage to pay basic expenses for an insured and his or her family in states with no fault automobile insurance. No-fault laws generally require drivers to carry both liability insurance ...
Same as term Automobile Assigned Risk Insurance Plan: coverage in which individuals who cannot obtain conventional automobile liability insurance, usually because of adverse driving ...
Monetary sum paid or payable to a recipient for which the insurance company has received the premiums. ...
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