Aviation Insurance
Combination of property insurance on the hull of an airplane and liability insurance in the following manner:
- property coverage provided on an ALL RISKS basis or on a specified perils basis for the hull, autopilots, instruments, radios, and any other equipment in the airplane as described in the policy;
- liability coverage provided in the event that the insured's negligent acts and/or omissions result in bodily injury and/or property damage to passengers and individuals who are not passengers.
Popular Insurance Terms
Sale of life insurance policies through vending machines. This method of distribution is generally limited to travel accident insurance, supplemental health or disability policies, or life ...
Coverage that exceeds the normal insurance capacity of an insurer or reinsurer. ...
Measurement of the response of the cash flow of an insurance company to various interest rate scenarios; for example, how rising interest rates will affect the number of life insurance ...
Coverage for damage due to peril! of war, usually written as part of an ocean marine insurance policy. ...
Sum it takes to replace an insured's damaged or destroyed property with one of like kind and quality, equivalent to the actual cash value, minus physical depreciation (fair wear and tear) ...
Historic insignia representing evidence of coverage placed on property insured by a particular insurance company. If the property on fire did not have the company's fire mark, its private ...
All insured losses paid in full. ...
Policy provision designed to restore an insured to his or her original financial position after a loss. The insured should neither profit nor be put at a monetary disadvantage by incurring ...
Insurance facility composed of many different syndicates, each specializing in a particular risk; for example, hull risks. Lloyd's provides coverage for primary jumbo risks as well as ...
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