Business Day

Same as term Dram Shop Law: liquor liability legislation in 20 states under which a dispenser of alcoholic beverages is held responsible for bodily injury and/or property damage caused by ...

Evidence of a temporary contract obliging a property insurance company to provide coverage as long as the premium accompanies the application. A property insurance agent can bind a company ...

Negligent acts and/or omissions by the individual (s) and the organization (s) resulting in damage to the environment. For example, pollution of the environment suits against manufacturers ...

Wrongful conduct causing false arrest, invasion of privacy, libel, slander, defamation of character, and bodily injury. The injury is against the person in contrast to property damage or ...

Specific powers granted by the principal (the insurance company) to the agent in the contract. ...

Coverage in the event a tunnel is damaged or destroyed. Written on an all risks basis, excluding perils of war, wear and tear, inherent defect, and nuclear damage. For example, this ...

In reinsurance contracts, clause that requires the re-insurer to provide coverage if an underlying carrier is unable to fulfill its obligations under the policy ceded to the re-insurer. ...

Average earned monthly income of the insured wage earner after regular earned income has been interrupted or terminated because of illness, sickness, or accident. This income amount is ...

Additional amount of life insurance above that provided by the employee benefit plan (standard group life plan) that may be chosen by the employee. A limit is usually placed on this maximum ...