Federal Flood Insurance
Coverage made available to residents of a community on a subsidized and nonsubsidized premium rate basis once the governing body of the community qualifies that community for coverage under the National Flood Insurance Act. Residents include business and nonbusiness operations with coverage written on structures and their contents. Coverage is purchased through licensed agents. Prior to passage of the Housing and Urban Development Act of 1968, of which the National Flood Insurance Act is a part, it was virtually impossible to obtain flood insurance coverage on an industrial building, residential building, retailing building, or a single family dwelling.
Popular Insurance Terms
Effective proprietor of a business. Under the tax reform act of 1986, a uniform accrual rule prevents a qualified pension plan from being weighted in favor of the substantial owner of the ...
Arbitrator who settles disputes over the amount of loss when an insurer and an insured do not agree. ...
Will written totally in the handwriting of that individual whose name appears on the will. ...
Expectation of illness or injury. The probability of such occurrence is shown by a morbidity table, which is important in determining the premiums for health insurance policies. ...
Same as term Expense Allowance: payment to an insurance agent in addition to commissions. Expense allowances, that differ from company to company, vary with the amount of business agents ...
Coverage for business firms operating abroad to insure them against loss due to political upheavals including war, revolution, confiscation, incontrovertibility of currency, and other such ...
Payment of an employee's employee benefit insurance plan benefits to the employee's individual retirement account ( IRA) or to another plan maintained by the employer. ...
Decision in the absence of a plaintiff or defendant at the specified court time. ...
Coverage for items that are on consignment, including exhibits, goods up for auction, and goods awaiting someone's approval. The stipulation for coverage is that these items cannot be under ...
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