Standing Timber Insurance
Coverage against only two perils, fire and lightning. The amount of coverage is per acre of standing timber for either merchantable trees (living trees with no decay, and minimum diameter), or for trees used in reforestation. This coverage is commonly purchased by tree farmers and investors. Historically, because of tax write-offs, investing in tree farms has been particularly popular among certain investors. With the passage of the tax reform act of 1986 such a tax shelter is no longer possible, but the reason for purchasing timber insurance for protection remains unchanged.
Popular Insurance Terms
Voluntary market conduct compliance organization whose purpose is to protect the public interest and to enhance the insurance buyer's perception of the life insurance instrument. The member ...
Liability policy that covers all liability exposures for a large group that has something in common. For example, wrap-up insurance can be written for all the various businesses working ...
Single contract coverage on a group basis issued to an employer. Group members receive certificates as evidence of membership summarizing benefits provided. ...
Method of funding a pension plan through: an individual level cost basis, where future benefits for the employee are estimated and contributions are made periodically while the employee is ...
Coverage for the federal government in the event of loss due to dishonest acts of federal government employees. ...
Coverage in health insurance by two or more policies for the same insured loss. In such a circumstance, each policy pays its proportionate share of the loss, or one policy becomes primary ...
Independent, nonprofit, membership medical-surgical plan. Benefits cover expenses associated with medical and surgical procedures. The physician and/or surgeon bills the Blue Shield plan ...
Additional amount of accidental death and dismemberment insurance not provided by the employee benefit plan (standard group life plan) that may be chosen by the employee. Generally, the ...
Proportion of losses incurred to premiums earned. This ratio indicates the amount of a premium dollar that is being consumed by losses. ...
Have a question or comment?
We're here to help.