Fine Art Dealers Insurance
Coverage for works of art, antiques, and similar articles of value on all risks basis, subject to exclusion of wear and tear, war, breakage, repairing, infidelity of the insured's employees, and mysterious disappearance. Fine Arts Insurance Policies are written on a scheduled basis with damaged or destroyed items being indemnified on a valued basis. The same type of coverage for fine arts is available through a Fine Arts Endorsement for a special multiperil insurance (SMP) policy.
Popular Insurance Terms
Return of a percentage of premium paid by a business firm if its loss record is better than the amount loaded into the basic premium. ...
Same as term Excess of Loss Reinsurance: method whereby an insurer pays the amount of each claim for each risk up to a limit determined in advance and the reinsurer pays the amount of the ...
Type of inland marine insurance that provides coverage for jewels, watches, gold, silver, platinum, pearls, precious and semiprecious stones. Property can be owned by the insured jeweler, ...
Monetary fund established to pay for claims that the insurance company is aware of (claims incurred or future claims) but that the insurance company has not yet settled. This reserve is ...
Assets, such as furniture and fixtures, that are not permitted by state law to be included in an insurance company's ANNUAL STATEMENT. ...
Same as term Tabular Plans: retrospective rating system with basic, minimum, and maximum premium rates listed in manual tables. Calculation of an individual premium involves adjusting the ...
Group that monitors government health insurance programs. Authorized by the 1972 amendment to the Social Security Act, PSROs were set up to cut costs and minimize abuses by checking on the ...
Prospective insured who completes and signs a written form containing personal statements about himself/herself. ...
Same as term Ceding Company: insurance company that transfers a risk to a reinsurance company. ...
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