Paymaster Robbery Insurance
Definition of "Paymaster robbery insurance"
Coverage for robbery of the payroll of a business. Coverage applies to money and checks from the time the payroll is withdrawn from the bank until it is distributed to the employees, whether inside or outside of the premises of the business. Employees are covered if robbed of their pay when the business itself is being robbed of the payroll. Excluded are manuscripts and records of accounts.
Popular Insurance Terms
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Same as term Compulsory Insurance: coverage required by the laws of a particular state. For example, many states stipulate minimum amounts of automobile liability insurance that must be ...
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Written notice to an insured showing date of termination of an insurance policy. ...
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Initial reserve plus the terminal reserve divided by two for any year of valuation. ...
Pension plan funding instrument in which contributions paid by an employer are deposited to accumulate at interest. (These plans are usually noncontributory.) Upon retirement, an immediate ...
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