Liability or loss resulting from an accident. Such liability or losses are covered under such policies as the following: business automobile policy (BAP), business property and liability insurance package, business owners policy (bop), casualty insurance, commercial general liability form (CGL), condominium insurance, homeowners insurance policy, personal automobile policy (pap), simplified commercial lines portfolio policy (sclp), tenants insurance, and workers compensation insurance.
Popular Insurance Terms
Apparent agreement that is not a valid contract. ...
Commission paid to an agent as a percentage of the premiums he or she collects on debt insurance (home service insurance, industrial insurance). ...
Membership organization of property and liability insurance companies. The association promotes the economic, legislative, and public standing of its members through its attention to ...
Entitlement to pension benefits without a reduction, even though an employee is no longer in the service of an employer at retirement. For example, under the ten year vesting rule, an ...
Principle of surplus distribution as the result of excess funds above the amount required to establish legal reserves. These excess funds are generated from three sources: mortality ...
Insurance company that underwrites and sells more than one line of insurance. ...
number of people born as a percentage of the total population in any given period of time. ...
Circumstance in which an insurance company can issue life or health insurance to an applicant based on standards set by the company. ...
Coverage for loss in the net earnings of a business if a supplier business, subcontractor, key customer, or manufacturer doing business with the insured business cannot continue to operate ...
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