Definition of "Removal"
Insured peril in some property insurance policies that encompasses any accidental damage to insured property while being removed to safety from the immediate threat of damage by another peril covered by that policy. For example, if an insured removes a chair from a burning home, puts it on the lawn, and then rain damages the chair, the loss insured would be covered by fire insurance on the furnishings of the home.
Popular Insurance Terms
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Form of insurance whereby the buyer (reinsurer) assumes the entire obligation of the cedent company, effected through the transfer of the policies from the cedent to the books of the ...
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Record of insurance policies sold to an individual. ...
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