Definition of "Jeweler"
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, or can be customer's property in care, custody, and control of the jeweler. Coverage is on an all risks basis except specifically excluded perils such as wear and tear; war; delay; loss of market; flood; earthquake; loss or damage while jewelry is being worn by the insured or his or her representatives; loss resulting from the infidelity of any person under the care, custody, and control of the insured; damage or destruction of jewelry after it leaves the insured under an installment contract; mysterious disappearance; and shipments of jewelry not sent registered first class mail.
Popular Insurance Terms
Arrangement of financial affairs such that a family member who is in a lower income tax bracket receives income that another family member would otherwise have received (thereby reducing ...
Legal power of the commissioner of Internal Revenue to approve any classification of employees that does not discriminate in favor of a prohibited group. Such approval is necessary before a ...
Type of business interruption insurance policy that provides a specific daily dollar amount benefit to the business owner for each day the business is unable to resume normal business ...
Broad type of marine legal liability coverage, hull marine insurance is limited to an insured ship. With the addition of a running down clause, a policy can be extended to cover liability ...
Formal, written, legal statement listing the provisions of an EMPLOYEE BENEFIT INSURANCE PLAN. ...
Modified guaranteed investment contract (GIC) in which the underlying assets of the synthetic contract are owned by the plan itself rather than the insurance company as is the case with the ...
Organization that underwrites insurance policies. There are two principal types of insurance companies: mutual and stock. A mutual company is owned by its policy owners, who elect a board ...
Separate trust established by a charitable entity whose purpose is to receive contributions from numerous donors. All the donors' contributions are commingled. Each donor can retain a ...
In property insurance, amount that an insured does not have to pay when a loss exceeds a predetermined sum; here the insurance company pays more than 100% of the loss, so that the ...
Have a question or comment?
We're here to help.