Peers, Wharves, Docks, And Slips Insurance
Definition of "Peers, wharves, docks, and slips insurance"
Coverage in the event of damage or destruction resulting from collision by a vessel or high waves. Excluded are fire, lightning, windstorm, earthquake, and explosion, since these perils are included under the Standard Fire Policy and the other business property policies. Piers, wharves, docks, and slips were the few properties that could be covered for flood damage under commercial insurance prior to passage of the Natural Disasters Act of 1968, of which the Federal Flood Insurance Program is a part.
Popular Insurance Terms
Organization formed to encourage research in insurance and to foster an exchange of ideas and research methodology among the society members. ...
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Transit over land. ...
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owner of property has an insurable interest because of the expectation of monetary loss if that property is damaged or destroyed. creditor of an insured has an insurable interest in ...
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