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
Method whereby an insurer pays the amount of each claim for each risk up to a limit determined in advance and the reinsurer pays the amount of the claim above that limit up to a specific ...
Form showing notification that an insurance policy has been renewed with the same provisions, clauses, and benefits of the previous policy. ...
Return of a pro rata portion of an agent's commission for a policy that is canceled prior to its expiration date. A commission is paid to an agent in the expectation that the premium will ...
Combination life insurance policy composed Of TERM LIFE INSURANCE and an INSTALLMENT REFUND ANNUITY. ...
Provision in a property or liability policy stating that after a loss has been paid, the total original limits of the policy are once again in effect. For example, assume a loss of $40,000 ...
Same as term Captive Agent: representative of a single insurer or fleet of insurers who is obliged to submit business only to that company, or at the very minimum, give that company first ...
Automatic reinsurance that requires the insurer to transfer, and the re insurer to accept, a given percentage of every risk within a defined category of business written by the insurer. For ...
Measure showing how much life insurance an agent has lost through replacement. It is expressed as a percentage of number of policies, face amount, or premium volume. ...
Prospective insurance applicant who has questionable underwriting characteristics. ...
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