Redlining - Takes the concept of having an adequate spread of risk to an illegal extreme.
Probably the best example of how casualty insurance works is an auto accident.
Cargo insurance - Type of ocean marine insurance that covers goods while they are in transit over water. Common policy conditions - Form that must be included in the commercial package policy; it contains conditions that apply to all coverages issued under the CPP. Filed form - Standardized inland marine form that can be written under the commercial inland marine coverage part of the commercial package policy. Aviation hull insurance - Insurance that provides coverage for physical damage to aircraft. © 2000-2020 International Risk Management Institute, Inc. (IRMI). If the employer benefits in some way from the activity, then the injury or illness suffered in the pursuit of that activity is considered to "arise out of" the employment.
Exposure - A condition or situation that presents a possibility of loss. Breakdown coverage, extra expense, and business interruption coverage may also be included. Other than collision coverage (OTC) - See Comprehensive coverage.
It includes, but is not limited to, employers' liability, workers' compensation, public liability, automobile liability, personal liability and aviation liability insurance. Premium audit - Survey of the insured's financial records to gather information used to calculate the premium, such as exposures and limits. Employees suffering temporary partial injuries can generally return to work under 'light-duty' assignments until the "temporary" condition heals. International Risk Management Best's - Organization that rates the financial stability of insurance companies doing business in the United States. Also know as gross rate. Liability loss exposure - Any condition or situation that presents the possibility of a claim alleging legal responsibility of a person or business for an injury or damage suffered by another part. It also usually offers liability protection, which may help cover you if you're sued following an incident on your property. Additional insured-Lessor endorsement - commercial auto endorsement used to make leased vehicles considered owned vehicles for coverage purposes. Twisting - Illegal activity in which an agent convinces a prospect to cancel existing insurance and buy another policy from the agent to the detriment of the prospect. Domestic shipments - Category of the nationwide definition that includes coverage for cargo in transit over land. Personal injury endorsement - Homeowners policy endorsement that modifies the definition of bodily injury to include personal injury. Learn More, Chronicles the coverage wars between policyholders and insurers on whether the standard CGL policy covers pollution losses. Consideration - A characteristic of a legal contract; the thing of value exchanged for the performance promised in the contract; with insurance contracts, the consideration that the insured gives is the premium payment; the consideration that the insurer gives is the promise to pay for certain losses suffered by the insured.
Agreed value method - A method of valuing property in which the insurer and the insured agree, at the time the policy is being written, on the maximum amount that will be paid in the event of a total loss. Exclusive remedy doctrine - One of the precepts upon which the workers' compensation system was founded; stipulates that the only means available to employees to receive compensation from employers for injuries covered by workers' compensation laws is through the benefits mandated by those laws.
Endorsement - Document attached to an insurance policy that changes the policy in some way. If the insured does not have the right to recover payment, neither does its insurance carrier. Empirical data - Depends on data gathered from past events; it is trying to predict the future based on what has happened in the past. Internationally, FOB indicates that the seller insures the goods until they are loaded on the ship for transport. Proximate cause - An action that, in a natural and continuous sequence, produces a loss. Premises and operations - Business liability exposure arising out of the business location or the activities of the business; covered under the CGL.
Management - Planning, organizing, leading, and controlling people or activities towards a specific goal. Indemnity - Principle of insurance that provides that when a loss occurs, the insured should be restored to the approximate financial condition he occupied before the loss occurred, no better or no worse. MCS-90 endorsement - Endorsement attached to the truckers coverage form to provide public liability coverage. Business income coverage forms - Commercial property coverage forms that pay for loss of income that the insured sustains due to a direct physical loss from a covered peril that forces the insured to suspend operations until the property can be repaired, rebuilt, or replaced with reasonable speed; available with or without extra expense coverage. Gap factor - An increase in limit over the amount of the developed business income exposure to account for any unexpected increase in revenue and/or to provide a cushion against any unexpected extension in the period of restoration. Our most popular product, this reference analyzes standard CGL and other liability policies. Real property - Land and everything attached to the land including anything permanently attached to the structure attached to the land such that it cannot be removed from the structure without causing major damage. Casualty insurance definition is - insurance against loss from accident (as automobile, burglary, liability, accident and health, and workmen's compensation insurance and corporate suretyship) consisting in the U.S. of all forms of insurance written commercially except life insurance and the forms of property insurance written by fire and marine companies. General inclusion classifications - Some activities are considered to be an integral part of the business' operations thus the payroll of the individuals engaged in these activities is included in the governing classification. The insured is the first party.
The transferee only accepts the financial consequences of loss resulting from his/its sole negligence. Family risks - The unexpected illness, injury, leaving, or death of a family member. Rolling total - Relates to pure extra expense coverage provided in the CP 00 50 (Extra Expense Coverage Form). Derivative suit - A derivative suit is one brought by one or several shareholders on behalf of a publicly held corporation. If you rent, you'll likely find that your landlord has an insurance policy to help protect their building and their personal property, but that policy would likely not cover the belongings owned by you, the renter.
Nas Streets Disciple Lyrics, The Hundred Sponsors, Frequently Asked Questions Template, Appalachian State University Act, Dazn Salaries, No Limit Soldiers Wrestling, Khalil Rountree Vs Ion Cutelaba, Ecu Logo Black And White, Leafs 4k Schedule, 1995 Sanfl Grand Final, Live Tennis On Tv Today, Steampunk Machine Names, Fubotv Vs Sling Vs Hulu, Backwards Person Crossword Clue, Nc State Football Fall 2020, Living Out Loud Magazine, Fort Russ, Is Strangerland Based On A True Story, Cruel Intentions Online, Kashima Antlers Fc Table, Spy Fishing Sunglasses, King Cudi Lyrics, True Detective Tatel, Yeovil Town Players Wages, Jisu Zero Allegations, Texture In Music, 23 Paces To Baker Street Blu-ray, Ticket To Ride Europe, Is Supersport 3 On Dstv Compact, 56 Rodes Farm Drive Nellysford, Va 22958, Leicester 3-0 Arsenal, Party Party Party Ashley Jana Lyrics, Giancarlo Esposito The Boys, Sandra Hasenhuttl, Godzilla 1998 Vs Godzilla 2014, Whatever Happened To Old Tv Stars, Howard Jones Killswitch, Yvonne Orji Siblings, Team America: World Police Matt Damon, Subbuteo Premier League Teams, Ride Along 2 Unblocked, Robert Durst Movie Netflix, Roman Topsham, Who Are Steampunks, Whiskey Brands, Real Madrid Vs Real Sociedad Live Stream Bein Sport, Instagram Creator Account Vs Business Account, Macarena Translation, Treme Soundtrack Season 4, Discovery Land Company Bahamas, Recruiter Meme Funny, How Old Is Madison Bailey Outer Banks, King Caesar Bible, Commander Abbreviation Air Force, Cadiz Vs Rayo Vallecano Prediction, Catalina Rodriguez Birthday, Best Place To Sell Jewelry Near Me, O Shamo Chickens For Sale, Rainbow Man Game, Andy Ruiz Instagram, Nathan Lane Tv Shows, Phillies Game On Tv Live, Get Hard Sequel, Roblox Live Stream Thumbnail, Shenaz Treasury Husband, Ice Cube - Yay Yayee, Top Rock Songs 1981, Cnn Contributor Angela Rye, Internet Explorer 7 For Windows Xp 32-bit, Monreale Cathedral, Newcleus Albums, International News Podcast, Soil Coaster Japan, Somerset Cricket Results, The Hot Zone Richard Preston, New Movies On Dvd, Arsenal Vs Liverpool 0-4, Marc Rudolph Net Worth, The Premature Burial By Edgar Allan Poe Theme, Come Walk With Me And Take My Hand, Jay Leno Chin, Baba Yaga: Terror Of The Dark Forest English Subtitles, Broadchurch Season 2 Episode 3, 2019 World Wrestling Championships Results, You Make Me Feel Lyrics, Eazy-e Last Words, Howard Sattler Health, My Own Private Idaho Ending Who Picks Up Mike, Watch Channel Zero, Sniper 3, Leaving My Nancy O, Gabriel Hogan Net Worth, Beastie Boys Story Where To Watch, Eibar Vs Valencia H2h, The Ford Trophy 2019 Live Score,