Profits And Commissions Form
Definition of "Profits and commissions form"
Coverage protecting future profits to be earned from a manufacturer's inventory. A manufacturer may lose all or part of an inventory of finished goods due to a peril such as fire and still be able to operate. But in the event that an inventory and other merchandise is destroyed by an insured peril, the insured is indemnified for the loss profit or commissions.
Popular Insurance Terms
Offer made by the insurance company to insure an applicant, provided the applicant is insurable according to the underwriting standards of the company, and the applicant accepts the offer ...
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Combination of the federal estate tax and the federal gift tax. ...
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Same as term Coinsurance: ...
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Same as term Compulsory Insurance: coverage required by the laws of a particular state. For example, many states stipulate minimum amounts of automobile liability insurance that must be ...
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