Sprinkler Leakage Insurance
Definition of "Sprinkler leakage insurance"
Coverage for property damage caused by untimely discharge from an automatic sprinkler system. This coverage, available through an endorsement to the Standard Fire Policy, typically excludes losses from fire, lightning, windstorm, earthquake, explosion, rupture of steam boiler, riot, civil commotion, and order of civil authority.
Popular Insurance Terms
Allocation of funds in a retirement plan. ...
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Coverage for personal effects of a tourist, including apparel, books, toilet articles, watches, jewelry, luggage, portable typewriters, photographs and photography equipment and supplies. ...
Same as term Concurrency: in which at least two insurance policies provide identical coverage for the same risk. ...
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Losses representing claims paid. ...
Shortened report showing pertinent insurance policy information, copies of which are distributed in the insurance company's home office and branch offices, as well as to agents and brokers. ...
Number of times losses occur, and their severity. These statistics measure expectation of loss, and are critical in establishing a basic premium or the pure cost of protection that is based ...
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