Business Property And Liability Insurance Package
Definition of "Business property and liability insurance package"
Protection of the property of the business that is damaged or destroyed by perils such as fire, smoke, and vandalism; and/or if the actions (or nonactions) of the business' representatives result in bodily injury or property damage to other individuals. Many insurance policies provide such coverages, but the two most often used are the commercial package policy and the businessowners policy (BOP).
Popular Insurance Terms
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Accrediting body for the CPCU (Chartered Property and Casualty Underwriter) designation. The institute provides undergraduate and continuing education in property and casualty insurance ...
Record of losses and premiums received for accident coverage within a 12-month period. These statistics show the percentage of each premium received that is being paid out in claims and ...
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Insured's income prior to the disability minus the insured's income after the disability. ...
Period, set by law, after which a damage claim cannot be made. Limits are set by individual states and usually range from one to seven years. ...
Health insurance that is not subject to alteration, termination, or increase in premium upon renewal. ...
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In property and casualty insurance, contract section containing such information as name, description, and location of insured property; name and address of the insured; period a policy is ...
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