Rain Insurance
Business interruption insurance in which the insured is indemnified for loss of earnings and payment of expenses resulting from adverse weather conditions. For example, the raining out of a fair, horse race, or boxing match can cause a substantial loss of money for a promoter who may have spent huge sums in advance of the event for rental, advertising, and site conditioning. However, the policy does not cover damage to property because of rain.
Popular Insurance Terms
U.S. government agency (formerly the Atomic Energy Commission) responsible for regulating the nuclear energy industry. The commission also provides supplemental insurance for nuclear ...
Means of selling and servicing property and casualty insurance through agents who represent different companies. The agents own the records of the policies they sell. ...
Person covered under an employee benefit insurance plan. ...
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Statement submitted to the insurance company to accompany a request for the reinstatement of an insurance policy that has lapsed. This statement certifies that the insured's health has not ...
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Automatic nonproportional reinsurance treaty or automatic proportional reinsurance treaty that provides coverage for losses upon which claims are made while the treaty is in force, without ...
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