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
Coverage for all kinds of personal property whether inside or outside an insured's (home) to include jewelry, musical instruments, cameras, fine arts, and precious stones. The insurance ...
Academic publication of the American risk and insurance association in which articles deal with aspects of risk, insurance, and allied fields of study. ...
Form of deductible usually found in disability income insurance; for example, no benefits may be payable for a length of time beginning with the first day of illness. Subsequently, benefits ...
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Same as term Cargo Insurance: shipper's policies covering one cargo exposure or all cargo exposures by sea on all risks basis. Exclusions include war, nuclear disaster, wear and tear, ...
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Coverage under which initial premiums are less than normal for the first few years, then gradually increase for the next several years until they become level for the duration of the policy. ...
Clause in an insurance policy that permits an insured to renew without having to take a medical examination, regardless of his or her physical condition; the premium cannot be increased to ...
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