Premises Medical Payments Insurance
Supplemental coverage written into or endorsed onto many business and personal liability policies. Covers medical costs and loss of income of persons injured on an insured's property, regardless of whether the insured was at fault in causing those injuries. This coverage enables the insured to volunteer to pay these medical costs and income losses when doing so serves the insured's business purposes or preserves personal relationships.
Popular Insurance Terms
Premium required by an insurance company for plans subject to premium adjustment. The initial provisional premium is paid to put a commercial property or liability insurance policy into ...
Money set aside to pay for losses. Rather than buy insurance coverage for all potential losses, some businesses and individuals choose this form of self insurance to cover all or a portion ...
Based on historical loss experience, from which future loss experience is predicted. ...
One used to determine the life expectancy of annuitants. Annuity buyers are not representative of the population as a whole, or of life insurance buyers. Because annuities pay an income for ...
Coverage for a group of individuals under one policy. Usually, members belong to a particular company, union, or trade association. In a contributory plan a lump sum premium is paid by the ...
Circumstance in which there is a probability loss to personal property or real property resulting from property damage, destruction, or disappearance. ...
Proportion of losses incurred to premiums earned. This ratio indicates the amount of a premium dollar that is being consumed by losses. ...
Arbitrator who settles disputes over the amount of loss when an insurer and an insured do not agree. ...
Estate under the legal and administrative guidance of both the surety and the fiduciary. Any actions on the part of the estate requires the signatures of both in order to reduce the chances ...
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