Passenger Bodily Injury Liability Insurance
Coverage for automobile or aircraft operators if they are sued for negligently killing or injuring a passenger. The PERSONAL AUTOMOBILE POLICY (PAP) provides MEDICAL PAYMENTS INSURANCE for doctor and hospital bills for passengers of the insured, and BODILY INJURY liability insurance for anyone who is accidentally disabled, injured, or killed by the insured. Aviation policies split bodily injury liability into general and passenger. Passenger liability covers a passenger who is injured, killed, or disabled; general liability covers anyone else.
Popular Insurance Terms
Partial payment of medical service expenses required in group health insurance, in addition to the membership fee. For example, for each visit of a physician a member may be required to pay ...
Standard for insurance regulation in New York State and a model for insurance regulation elsewhere. For example, the standard fire policy was first adopted in New York State. Similarly, ...
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Purchasing bond investments that mature at different time intervals. ...
Accounting procedures that defer the full funding of a life insurance net level premium reserve to accommodate the policy acquisition cost in the early years of a policy. First-year policy ...
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System of charges to an insured that fluctuates according to the loss experience of that insured. This is a form of experience rating. ...
Contractual agreement between two parties in which they agree to exchange a stream of interest payments on either a fixed rate for a floating rate or a floating rate for a fixed rate. The ...
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