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Subject to the "fortuity principle", the event must be uncertain. The uncertainty can be either as to when the event will happen (e.g. in a life insurance policy, the time of the insured's death is uncertain) or as to if it will happen at all (e.g. in a fire insurance policy, whether or not a fire will occur at all). [4]
In insurance policies, an additional insured is a person or organization who enjoys the benefits of being insured under an insurance policy, in addition to whoever originally purchased the insurance policy. [1] [2] [3] The term generally applies within liability insurance and property insurance, but is an element of other policies as well. Most ...
Understanding your car insurance liability limits. Almost every state in the U.S. requires you to have liability coverage.This essential coverage pays for injuries or damage sustained by the other ...
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.
If a borrower is unable or unwilling to secure their own full coverage car insurance policy, which includes comprehensive and collision coverage that protects against physical damage to your ...
While the agent collects commissions, they do not collect a salary from the companies they represent. On average, independent agents work with thirteen property and casualty and six life and health insurance companies on a regular basis. [7] Independent agents own and control their accounts, policy records, and renewals.
Improvised explosive device, an explosive device often used in unconventional warfare; Instantaneous electrical detonator, used to trigger an explosive device; Intelligent electronic device, in the electric power industry; Implantable electronic device, pacemaker
Some insurance carriers will tailor their clients' coverage to include some of the above risks, but every such extension will be accompanied by increased premiums. Due to these restrictions, the process of claiming the benefit may be relatively lengthy; the deceased client may have to undergo autopsy and the accident may have to be officially ...