Prospect

Clause in liability insurance policies stating that the insurance company has a legally enforceable obligation to pay all claims and defend all suits (even if groundless) up to the policy ...

Exposure present only at certain times of the year. For example, resort property faces a business interruption risk only from damage that cannot be repaired in time for the resort season. ...

Same as term: Additional Living Expense Insurance: coverage under a Homeowners, Condominium, and Renters policy, that reimburses costs of residing in a temporary location until the ...

Securities that derive their value from other financial instruments that are used by the insurance company to hedge its bets on which direction the market is moving. For example, cattle ...

Standard set under the occupational safety and health act that sets allowable levels of worker exposure to such toxic substances as asbestos, certain chemicals, and radiation. In many cases ...

Term referring to the most common charge, in health insurance, for a service. ...

Coverage during the transfer of securities and monies, precious metals, and other specified types of valuables by armored guard services. Policies are specifically designed to fit an ...

Flat dollar amount added to arrive (premium rate per $1000 of face amount x face amount) at the premium. ...

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. ...