Special Personal Property Form
Endorsement to the special multiperil insurance (smp) policy that provides all risks damage coverage for personal property. There are special limitations on amounts of coverage for furs, jewelry, precious stones and metals, patterns and dies, and stamps, tickets, and letters of credit. Certain electronic equipment and fragile materials are only covered for specific perils.
Popular Insurance Terms
Amount of insurance coverage that an insurance company is willing to write on a given category of business. ...
Percentage of first year's premium paid to compensate an insurance agent. This is known as the "First Years" to show how much new business the agent is generating, compared with renewal ...
Modifications of the traditional defined benefit plan in which employees are credited with a specified percentage for each year of recognized service with the employer. Upon termination of ...
Type of proportional reinsurance under which the ceding company (primary insurer) cedes to a re-insurer its net amount at risk for the amount above its retention limit on a life insurance ...
Buy or sell order for security that expires at the end of the trading date on which it was entered if not executed. ...
Policy owner rights under a life insurance policy, including the right to name a new beneficiary at any time and to surrender the policy for its cash value. ...
unlawful application of force to another's person; physical striking of another without permission. ...
Insurance issued to a creditor (lender) to cover the life of a debtor (borrower) for an outstanding loan. If the debtor dies prior to repayment of the debt, the policy will pay off the ...
Over a long period of time, the average loss an individual, individuals, or an organization can expect to incur from a particular exposure. ...
Have a question or comment?
We're here to help.