Simplified Earnings Form
Addition to a business property insurance policy to cover loss of earnings, subject to a monthly limit, in the event that property of an insured is destroyed and a business cannot continue. The property insurance policy pays only in the event that property of an insured is destroyed and a business cannot continue. The property insurance policy pays only for direct loss of income-producing property. A building destroyed by fire represents a direct loss. Lost income resulting from the shutdown of a manufacturing facility housed in the burned building represents an indirect loss that would be covered by business interruption insurance, which is written on a number of separate forms.
Popular Insurance Terms
Partial payment of medical service expenses required in group health insurance, in addition to the membership fee. For example, for each visit of a physician a member may be required to pay ...
Term referring to the most common charge, in health insurance, for a service. ...
Imprecise term still occasionally used by commercial or proprietary insurers to differentiate them from fraternal insurers. "Old line" was apparently meant to make these companies sound ...
Specific time at which the insurance policy coverage begins and ends. ...
Pricing of the insurance product below the necessary premium rate to reflect the costs of expected losses. The thesis of this pricing strategy is to obtain large sums of money to invest and ...
Hazard covered under catastrophe reinsurance. This form of excess of loss reinsurance protects the ceding company for loss above the retention limit caused by multiple catastrophic events. ...
Professional management designation earned by passing 10 national examinations on life and health insurance subjects including insurance, finance, marketing, law, information systems, ...
Federal statute defining the federal tax code, covering such topics as credits against tax; business-related credits; computing credit for investment in certain depreciable property; ...
Form of marine insurance that covers mobile equipment of a contractor, including road building machinery, steam shovels, hoists, and derricks used on the job by builders of structures, ...
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