Face Amount (face Of Policy)

In a commercial general liability (comprehensive general liability) policy, exclusion of coverage for sold premises. The objective of this exclusion is to eliminate coverage for property ...

Physical handing of an insurance policy to the insured. Sales training emphasizes the importance of delivery of a policy by the agent. This develops a caring attitude on the part of the ...

Coverage, in liability insurance, for harm suffered by others because of events occurring while a policy is in force, regardless of when a claim is actually made. ...

Statement prepared by an inspection bureau for a life or health insurance company that summarizes information about an applicant for a policy, including financial standing, morals, physical ...

Annual premium expressed on a proportionate basis such as monthly, quarterly, or semiannually. ...

Same as term Expected Loss: probability of loss upon which a basic premium rate is calculated. ...

Violation of duty in marine insurance, such as acts of the master and crew of a ship that result in damage to the vessel including purposefully running it aground, diverting it from its ...

Professional designation earned after the successful completion of six national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as premium ...

Cancellation of a contract. Under the federal Truth in Lending Act, a person who signs a contract can nullify it within three business days of having signed it without penalty; funds paid ...