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
Process of distributing the costs associated with losses and risks over a number of insureds. ...
Coverage under a homeowners insurance policy in the event that a credit card is fraudulently used or altered. Fraud includes theft and the unauthorized use of a credit card. ...
Same as term Morbidity Table: umber of individuals exposed to the risk of illness, sickness, and disease at each age, and the actual number of individuals who incurred an illness, sickness, ...
Commercial life insurers that operate on the legal reserve system as opposed to fraternal life insurance companies, many of which now operate on a legal reserve basis. ...
Legal phrase used in negligence cases to describe one person's overwhelming lack of care for the rights or well-being of another. Wanton disregard of another's rights is evidence of GROSS ...
Rules by state insurance regulators for valuing admitted assets on the books of insurance companies. Part of the state supervision and regulation of insurers is the determination of which ...
Cash value of life insurance that accumulates according to a table in a policy. It reflects premiums in the early years that exceed the pure cost of protection during that period. If a ...
Term meaning that an exporter of goods that are damaged or destroyed during international shipment relinquishes responsibility for the damage or destruction once the goods leave the point ...
Price an investor is willing to pay for a financial asset. ...
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