Livestock Floater
Definition of "Livestock floater"
Standard Commercial Property Floater form covering death or damage to livestock as the result of insured perils such as fire, lightning, explosion, smoke, wind, hail, aircraft, earth quake, theft, flood, collapse of bridges, collision, or overturn of a vehicle used in transporting the livestock from the point of destination. Some insurance companies also cover attacks by domestic or wild animals, drowning, and accidental shooting. Common exclusions include illegal acts, confiscation by the order of a government authority, loss due to quarantine, war, loss due to sleet or snow, and loss due to the acceptance by the owner of a check covered by insufficient funds.
Popular Insurance Terms
Observance of an event occurring on a repeated basis that leads one to believe that a certain probability is attached to the occurrence of that event. For example, if there are a red ball ...
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 ...
Frequency with which employees resign, are fired, or retire from a company, usually computed as the percentage, of an organization's employees at the beginning of a calendar year. The ...
Policy under which a portion of the death benefit (generally 25%) becomes payable to the insured for a specified medical condition prior to death. The purpose of the accelerated death ...
Individual prohibited under the employee retirement income security act of 1974 (erisa) from conducting transactions with a trust plan. The prohibition is intended to prevent a conflict of ...
Hospital, physician, or other provider of health care that an insurer recommends to insureds. A PPO allows insurance companies to negotiate directly with hospitals and physicians for health ...
Latin phrase meaning "beyond power or authority" describing an act by a corporation that exceeds its legal powers. For example, corporations do not have the authority to engage in the ...
State law that stipulates the establishment of required reserves for claims made basis liability coverage contracts, removes the excess statutory reserves, and directs that all amounts that ...
To accumulate. For example, under one of the dividend options of a participating life insurance policy, dividends can accumulate at interest by leaving them with the insurance company; cash ...
Have a question or comment?
We're here to help.