Nationwide Marine Definition

Definition of "Nationwide marine definition"

Statement of the types of exposures classified under marine, inland marine or transportation insurance by placing them in the following categories: imports, exports, domestic shipments (goods in transit), communication vehicles (tunnels, bridges, piers, and power transmission lines), personal property floaters (stamp collections, coin collections, fine arts, paintings, musical instruments, silverware, and furs), commercial property floaters (accounts receivable, valuable papers, valuable records, and physicians' and surgeons' instruments). The definition also makes use of the following differences in condition: electronic data, property in a bailee's custody, and property for sale by a dealer (such as musical instruments, cameras, fine arts, and jewelry).

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

process of discovering sources of loss concerning the liability risk faced by individuals and business firms. The first step in risk management is to identify the causes of a loss by ...

clause found in health insurance contracts that requires the insured to pay a specified percentage of the covered health care expenses. ...

Frequency of death. ...

Part of the federal Medicare program for additional coverage on a voluntary basis. The Medicare program is divided into two parts: (1) Hospital Insurance provides hospital benefits to ...

Benefit in disability income insurance whereby an injured or ill wage earner receives a monthly income payment to replace a percentage of his or her lost earnings. ...

Provision that covers a business to be protected under a reinsurance treaty. The class either can appear at the beginning of the agreement or may be included in the retention and limits ...

Same as term Expiration: termination date of coverage as indicated on the insurance policy. ...

Type of guaranteed investments contract in which the interest credited is adjusted on a periodic basis to reflect the investment earnings of the underlying assets of the contract. ...

Sum it takes to replace an insured's damaged or destroyed property with one of like kind and quality, equivalent to the actual cash value, minus physical depreciation (fair wear and tear) ...

Popular Insurance Questions