Trip Transit Insurance
Coverage on a single shipment of property while in temporary storage or in transit. This policy is most commonly used in moving of household goods, which are covered from the time they are picked up, put in temporary storage, shipped to another location and put in temporary storage, and then delivered to the insured's new address. Protection is on an all risks basis subject to exclusions such as war, wear and tear, and nuclear disaster.
Popular Insurance Terms
Section of the code that qualifies that the death benefit paid under a life insurance policy is received by the beneficiary income-tax free. These tax consequences apply regardless of the ...
Transportation firm that must carry any customer's goods if the customer is willing to pay. Common carriers include trucking companies, bus lines, and airlines. ...
Combination of an interest rate cap and an interest rate floor, creating a band within which interest rates can range. For example, if an interest rate band is between 6% and 10%, the ...
Form of coverage in which an insurer automatically reinsures individual risks with its reinsurer. The insurer must transfer (cede) the risks to its reinsurer and its reinsurer must accept ...
Coverage for the inside of an insured premises of a business firm if it experiences a loss of money, securities, personal property, and damage or destruction of real or personal property ...
Classification of insured life and health risks based on the sex of the proposed insured. Gender has long been one of many factors in classifying, accepting, and rating risks. For example, ...
Practice of a ceding company whereby insurance previously ceded to a re insurer is returned to that ceding company. ...
Frequency with which employees resign, are fired, or retire from a company, usually computed as the percentage, of an organization's employees at the beginning of a calendar year. The ...
Classification of ships according to their construction material, age, physical condition, propulsion type, stress tests of structure, and owners. Marine insurance rates for a particular ...
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