Stock Processing Insurance
Definition of "Stock processing insurance"
Coverage in the event that stock sent to others for processing is damaged or destroyed en route or at their premises except those perils specifically excluded. For example, this coverage can be used when processing milk into cheese since the farmer would lose everything if the milk were damaged or destroyed en route or at the processor's premises.
Popular Insurance Terms
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Same as term Compulsory Insurance: coverage required by the laws of a particular state. For example, many states stipulate minimum amounts of automobile liability insurance that must be ...
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Written notice to an insured showing date of termination of an insurance policy. ...
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