Owners, Landlords, And Tenants Liability Policy
Definition of "Owners, landlords, and tenants liability policy"
Coverage for bodily injury and property damage liability resulting from the ownership, use, and/or maintenance of an insured business's premises as well as operations by the business anywhere in the U.S. or Canada. Businesses that qualify for the Owners, Landlords, and Tenants Policy include mercantile establishments, apartment buildings, and office buildings. The only ineligible firms are those engaged in manufacturing. Excluded perils are: operation of an automobile, aircraft, contractual liability resulting from an agreement by the insured, war, nuclear disaster, and liquor liability.
Popular Insurance Terms
Statistical procedure applied to the data that comprises a mortality table. It is designed to smooth out the irregularities in that data believed to not be truly indicative of the ...
Husband's interest in his wife's property upon her death. A husband has an insurable interest in that property and can purchase a property and casualty insurance policy to cover the ...
Payment made by a party causing harm to the party incurring that harm. ...
Insurance salesperson who is licensed to place coverage with an insurance company that is not licensed to do business in the state of domicile of the broker. The excess line coverage must ...
Type of pension plan under which a retirement annuity is purchased at the time of retirement of the employee, funded by means of a single premium payment made to the insurance company. ...
Situation where a stock insurer must invade its capital account in order to meet its obligations. Most states do not allow insurers to do this and quickly rescind their right to do business. ...
Bureau insurer that files its statistical and underwriting experience with a rating bureau. ...
Business income coverage form that covers an insured business in the event that a manufacturer's operations are interrupted or suspended, thereby resulting in a monetary loss because a ...
Period when the accumulated assets in an annuity are returned to the annuitant. An annuity may be purchased either with a single payment or with many payments over the life of the contract. ...
Have a question or comment?
We're here to help.