Contributing Properties Coverage
Same as term Contingent Business Income Coverage Form: 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 because of damage or destruction. For example, a specialty hot dog stand noted for its great buns cannot sell its product if the bakery supplier of hot dog buns bums down. In instances where a business is heavily dependent on its suppliers or subcontractors, interruption of the flow of material from the supplier usually results in a substantial loss to the business.
Popular Insurance Terms
Same as term Automobile Assigned Risk Insurance Plan: coverage in which individuals who cannot obtain conventional automobile liability insurance, usually because of adverse driving ...
Numerous automotive vehicles covered under a common insurance policy. ...
Pension plan under which both the contribution (employer and employee if a contributory plan) and the benefit structure are fixed. In order to properly maintain the actuarial equivalent, ...
Coverage for negligent acts or omissions of an operator of a motel or hotel resulting in bodily injury to guests and damage or destruction of a guest's property. ...
To sell a specific amount of insurance. ...
Coverage for a loss incurred by the insured resulting from an infringement of the insured's patent or coverage for a claim made against the insured resulting from infringement by the ...
Value of benefit or contribution allocated to an employee under a pension plan; method of determining benefits due a retired employee. Each private pension plan establishes rules for ...
Viewpoint that an insurer whose liability policy is in force at the time of an accident or injury should pay a claim. See also long-tail liability; manifestation/injury theory. ...
Standard property/casualty insurance premium set by a state rating bureau. States have responsibility for regulating insurers and making certain that rates are reasonable. To this end, ...
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