Water Quality Insurance Syndicate

Definition of "Water quality insurance syndicate"

Group of marine underwriters formed in 1971 to provide coverage for shipowners for water pollution liability. The federal water quality improvement act of 1970 made shipowners responsible for hazardous substances discharged by their ships into the water. This led to the Water Quality Insurance Syndicate. Coverage extends to liabilities imposed by states. The syndicate vouches for the financial responsibility of those it insures.

Search Real Estate Glossary

Related Real Estate Glossary terms

Voidable

Descriptive of a contract that may be annulled by a party to it due to some illegality, incompetence ...

Floating Floor

Floor design to provide sound insulation qualities. A floating floor is separated from the building' ...

Split Life Insurance

Combination life insurance policy composed Of TERM LIFE INSURANCE and an INSTALLMENT REFUND ANNUITY. ...

Policy Period

Time interval during which policy is in force. ...

Spouse's Benefit

Insured sum paid regularly to a married partner (usually a wife but sometimes a husband) of a retire ...

Soil Bank

Government compensation to farmers not to grow products to preserve the land and maintain stable agr ...

Related Real Estate FAQ

What Are Comparables Or Comps?

Recently sold properties that are similar in size, location, and amenities to the home for sale. The ...

What Happens When You Prequalify?

When you are prequalified, the lender gives you an estimate but does not formally commit to giving y ...

What Is An Assumable Mortgage?

A type of purchase in which the buyer assumes the responsibility of making payments on a sellers hom ...

What Is A Proration?

A proration is the division of certain fees. If the sellers have paid the taxes six months in advanc ...

How Can I Protect My Home Office?

Commercial insurance is designed to help protect many of the risks your business can face, includin ...

What Is A Good Faith Estimate?

A Good Faith Estimate is when a lender must give a prospective homebuyer a written estimate of closi ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Top Five Reasons Your Home Offer was Rejected Real Estate Open House - The Dos and Don 3 tips to ensure your sale goes through 10 Tips for Homebuyers What is Earnest Money

FAQ

What is an agent? What is earnest money? What is an APR and what does it include? What Will My ARM Loan Payment Be ? What is a lease purchase mortgage?