Definition of "Arson"
Written by
Patti Bowman & Lisa Bowman Zeiter, Associate Brokers
Group One Sotheby’s International Realty
Actual or attempted malicious and deliberate burning of a physical asset owned by another party. Coverage against arson is provided under property insurance, but only if the insured has not committed the arson. The property insurance business has long worked to discourage arson and to prosecute arsonists.
Popular Insurance Terms
Group of mutual insurers that provides insurance for nuclear reactors that standard property and liability policies exclude. The federal government provides supplementary coverage. ...
Right of a certificate holder to convert group life or group health insurance to an individual policy without a physical examination to furnish evidence of insurability. Usually this must ...
Total of operating income plus realized capital gains (losses) from investment and underwriting operations minus federal income taxes. ...
Probable number of times that a specified event is likely to occur. For example, if E is the event, then the odds for E occurring are X to Y according to the following relationship: P (E) ...
Number of bits a modem can receive or send per second. ...
Coverage for malpractice suits resulting from professional acts and/or omissions of morticians. ...
Policy that has an initial premium with flexible premiums thereafter. Within limits, a policy owner can select both the future amount and frequency of premiums, or can stop and start ...
Summary certificate of benefits issued to an employee in lieu of a policy. The master contract remains with the employer. For example, in group life insurance, an employee receives only a ...
Actual or attempted malicious and deliberate burning of a physical asset owned by another party. Coverage against arson is provided under property insurance, but only if the insured has not ...
Have a question or comment?
We're here to help.