Livestock Insurance
Coverage for designated horses and other farm animals if they are damaged or destroyed. The insurance includes registered cattle and herds, other farm livestock, and zoo animals. This type of insurance protects the farmer or rancher against the premature death of animals resulting from natural causes, fire, lightning, accidents, and acts of God, acts of individuals other than the owner or employees, and destruction for humane purposes.
Popular Insurance Terms
Factor applied in retrospective rating in order to increase the basic premium to cover state premium taxes for liability and workers compensation insurance. For example, if a state premium ...
Type of logic that makes the assumption that what has happened in the past will happen in the future, given the same conditions surrounding the two occurrences. In other words, "History ...
Person, business, or organization specified as the insured (s) in a property or liability insurance policy. In some instances, the policy provides broader coverage to persons other than ...
Clause in a property insurance policy that requires the insurance coverage in that policy to be allocated in the proportion that it bears to the total insurance coverage in force from all ...
Amendment to the law that requires companies that manage retirement plans to permit terminating participants to directly transfer any plan distribution to the individual retirement account ...
Management philosophy developed by W. Edwards Deming, the thesis of which is the continuous improvement in quality through research in customer satisfaction and the empowerment of ...
In general, a civil wrong, other than breach of contract, for which a court will provide a remedy in the form of a suit for damages. Torts include negligent acts or omissions on the part of ...
Person who transfers rights under an insurance or mortgage contract. ...
In property coverage, ratio of the amount of insurance to the value of an insured property. This ratio, multiplied by the amount of the loss, determines the indemnification payment. ...
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