Navigation Risk Insurance
Coverage during the operation of a ship for: Property of Ship (ship's hull, tackle, passenger fittings, equipment, stores, boats), and ordnance; Property Damage Liability (ship's owner and/or operator is protected if the ship collides with another, causing damage and loss of use). Excluded is liability to the owner and/or operator for damage to piers, wharves, bodily injury, or loss to the insured ship's hull and/or cargo (this coverage amount is in addition to the amount of coverage on the insured ship's hull and cargo); and Bodily Injury Liability Insurance.
Popular Insurance Terms
Plan wherein total withdrawal or income payments from tax deferred savings plans exceed $150,000 in any one year. An excess distribution tax of 15% of the amount greater than $150,000 must ...
Fund established to pay specified losses, usually the low severity property losses. This type of account is an excellent device in conjunction with a self-insurance plan, in which the fund ...
Arrangement whereby the insured pays the insurance company a relatively small monthly premium payment. In exchange for this premium payment, the insurance company processes and pays claims ...
Clause, generally found in business interruption insurance, that establishes the same indemnification basis as the coinsurance clause. ...
Single premium life insurance policy, from which the death benefit is used to pay the predetermined expenses of the insured's funeral. The funeral home agrees to provide the funeral in ...
Individual who has the right to the use of assets while the usufruct is in force. ...
The definition for retainer agreement: work for hire contract that provides a client with a fixed number of work-hours from freelancers or lawyers. Even a real estate lawyer uses this type ...
Damage or destruction of property and/or property that is illegally transferred as the result of misconduct of individuals. The risk is insurable. ...
Monetary sums attached to an insurance company's assets, as listed on the annual statement. ...
Have a question or comment?
We're here to help.