Time Element (time Policy) Coverage
Definition of "Time element (time policy) coverage"
Insurance that covers an indirect loss stemming from a direct loss by a covered peril to income-producing property. A building destroyed by fire represents a direct loss. Lost income resulting from the shutdown of a manufacturing facility housed in the burned building represents an indirect time element loss and would be covered by business interruption insurance, a form of time element insurance.
Popular Insurance Terms
Cash carried forward from the previous year, plus gains from operations for the current year, plus any capital gains. ...
Total of interest, dividends, and other earnings derived from the insurance company's invested assets minus the expenses associated with these investments. Excluded from this income are ...
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Life insurance premium that is not currently due. Future payments are made on a frequency basis other than annual. ...
Agreement of two or more insurance companies to provide a product or service. ...
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Professional designation conferred by the International Board of Standards and Practices for Certified Financial Planners. In addition to professional business experience in financial ...
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