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
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Actual morbidity experience of an insured group as compared to the expected morbidity for that group. ...
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Health plan that pays a flat fee for each patient it covers. ...
Process of distributing the costs associated with losses and risks over a number of insureds. ...
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