Scheduled Policy
Definition of "Scheduled policy"
Policy permitting an insured to choose desired coverages. These policies are important for items with relatively low limits of coverage under standard property insurance forms. For example, an insured would have to specifically schedule expensive jewelry, furs, and paintings in order to receive full value for a loss.
Popular Insurance Terms
Arbitrator who settles disputes over the amount of loss when an insurer and an insured do not agree. ...
Appreciation in the unsold assets' value. When assets are sold, their capital gain (loss) is shown on the insurance company's income statement; any unrealized gain or loss is not included ...
Agreement "of utmost good faith." Under law, it is assumed that insurance contracts are entered into by all parties in good faith, meaning that they have disclosed all relevant facts and ...
Date of issue of the policy. ...
Written evidence given to a policyowner by an insurance company or insurance agency that it has received a premium. ...
A valuation of risk of an individual or organization. ...
Coverage for a shipper (owner/sender) for property damage or loss of goods in transit through the post office. A trip transit insurance policy specifically excludes coverages on property ...
Type of health maintenance organization (HMO) that issues contracts to independent physicians. These physicians are paid a per visit fee for seeing an HMO member or are paid an annual fixed ...
Same as term Adjuster: individual employed by a property and casualty insurance company to settle on its behalf claims brought by insureds. The adjuster evaluates the merits of each claim ...
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