Use And Occupancy Insurance
Type of business interruption insurance that provides indirect loss coverage by endorsement to boiler and machinery insurance. The latter, sometimes called power plant insurance, provides for both direct and indirect loss coverage. Direct loss would indemnify an insured for damage to property. Use and occupancy insurance covers an insured for loss of use of the equipment due to damage from a named peril.
Popular Insurance Terms
Distribution of a deceased beneficiary's share of an estate among that beneficiary's children. Contrast with per capita. ...
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Individuals who inherit assets as the result of being named in a will. ...
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Interest earned on dividends from a participating life insurance policy left on deposit with the insurance company and subject to taxation. ...
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Compensation payable to the owner of a ship detained for reasons beyond his or her control who incurs a loss of earnings because of the delay. Detainment can be caused by a delay in the ...
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