Unvalued Marine Policy
Definition of "Unvalued marine policy"
Coverage that does not put a dollar value on a hull or cargo that is insured. A valued marine policy puts a specific value on the insured property. With unvalued property, the value is determined at the time of loss.
Popular Insurance Terms
Payment to the seller over the seller's life expectancy for the sale of the seller's assets. This procedure provides for the immediate removal of assets that have appreciated from the ...
Extended reporting period, for an unlimited length of time, during which claims may be made after a claims made basis liability coverage policy has expired. ...
Form of insurance whereby the buyer (reinsurer) assumes the entire obligation of the cedent company, effected through the transfer of the policies from the cedent to the books of the ...
Type of insurance under which it is assumed that the interest earned will exceed the interest rate guaranteed. Excess interest is credited to the policy owner in the following manner: in a ...
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Law, in several states, establishing a fund to guarantee benefits under policies issued by insurance companies that become insolvent. ...
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