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Extended coverage is a term used in the property insurance business. All insurance policies have exclusions for specific causes of loss (also called "perils") that are not covered by the insurance company. An extended coverage endorsement (EC) was a common extension of property insurance beyond coverage for fire and lightning.
HO-2 policies may be cheaper since they offer less coverage, but you may be opening yourself up to extra risk. HO-2 insurance, also known as a broad form homeowners insurance policy, is a type of ...
SRS is a form of variable envelope return path (VERP) inasmuch as it encodes the original envelope sender in the local part of the rewritten address. [2] Consider example.com forwarding a message originally destined to bob@example.com to his new address <bob@example.net>:
Again, this is a "named perils" policy. The loss must specifically be listed to receive coverage. Fortunately, the "broad form" is designed to cover the most common forms of property damage. Broad-form covered perils: All basic-form perils; Burglary, break-in damage; Falling objects (e.g. tree limbs) Weight of ice and snow; Freezing of plumbing
The Standard Fire and Special Perils Policy (SFSP) [17] is a kind of traditional insurance product that is specially designed to protect your property and its articles from the unforeseen unfortunate accidents caused due to fire and the allied perils. With multiple extensions, this policy not only keeps your property secure but also lessens the ...
An insurance broker typically doesn’t know all the policy details for every policy type and insurance company. There could be policy exclusions, terms and conditions they may not be aware of ...
After builder risk coverage expires, due to sale or occupancy, the new owner typically obtains permanent property insurance on the building such as a home owner's policy or a commercial property policy. Insurance costs generally run between one and four percent of the construction cost, depending upon the type of insurance purchased and ...
Alternative risk transfer (often referred to as ART) is the use of techniques other than traditional insurance and reinsurance to provide risk-bearing entities with coverage or protection. The field of alternative risk transfer grew out of a series of insurance capacity crises in the 1970s through 1990s that drove purchasers of traditional ...