Sidetrack Agreement
Definition of "Sidetrack agreement"
Type of hold-harmless agreement made by a property owner as a condition for being served by a railroad spur. If the owner wants a special sidetrack, the railroad requires the owner to assume responsibility for certain losses for property damage or injury arising from use of the track, even if the railroad is at fault. Most common in these agreements is responsibility for loss due to fire.
Popular Insurance Terms
Coverage that provides a death benefit to the owner of a policy in the event of the death of insured livestock. ...
Still with life. This is a life insurance term used to describe the living benefits available under a life insurance policy such as a monthly retirement payment to an insured. ...
Provision of liability insurance that excludes coverage for dishonest acts of an insured. ...
Coverage on a single shipment of property while in temporary storage or in transit. This policy is most commonly used in moving of household goods, which are covered from the time they are ...
Plan in which a public employer (such as a university, state, county, or municipality) sponsors a retirement savings program, named for the section of the Internal Revenue Code that permits ...
Section of an insurance company that sells through brokers. Some brokerage departments are self-contained in that they have their own underwriting and marketing staffs. Brokerage ...
Risk management technique for shifting a corporation's exposure from itself. A risk manager looks at many alternatives to insurance to limit the risks a business firm faces. One transfer ...
Coverage giving income benefits to surviving family member (s) if one member should die. These include the family income policy, family income rider, family maintenance policy, and the ...
Form of reinsurance that shows loss history and premium history with respect to specific risks. The ceding company provides its re-insurer with mat information. This information is used by ...
Have a question or comment?
We're here to help.