Special Personal Property Form
Definition of "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
actual fire losses divided by the total value of the property exposed to the peril of fire; actual losses resulting from fire divided by the total fire amount of in-force business. ...
Coverage for damage to a building or its contents due to the weight of these elements. Outdoor property such as patios, swimming pools, and sidewalks are usually excluded. ...
tort against another person's property, designed to detain or dispose of it in a wrongful manner. For example, wrongful selling of another person's automobile without permission would ...
Coverage for present and past U.S. uniformed services members under one of these programs: United States Government Life Insurance (USGLI) established in 1919 to provide RENEWABLE TERM LIFE ...
Health insurance contract sold to an individual to provide coverage for medical expenses. Contrast with group health insurance. ...
Effort of a poor risk to seek insurance coverage. The onset of a health problem such as heart disease, for example, may prompt a person to apply for life insurance before seeking medical ...
Federal act composed of amendments to the Product Liability Risk Retention Act of 1981 and enacted to make the procedures more efficient for creating risk retention groups (capitalized, ...
Undiscounted loss reserves that must be maintained by property and casualty insurance companies in an adequate amount to provide for the payment of the settlement value of the outstanding ...
Endorsement to personal automobile policy (PAP) that covers an insured involved in a collision with a driver who does not have liability insurance. ...
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