Terms & Definitions

 

Business Income with Extra Expense - asdfasdfasdfasdfasdfasdfasdfasdfasdfasd  asdfasdfasdf asdfasdfasd asdfasdfasd asdfasdfasd asdfasdf

PROPERTY RELATED

Hammer Clause - 

Hammer Clause - 

Hammer Clause - 

First Party - .

Certificate of Insurance - 

Loss Exposure - A con

Loss Exposure - A conditis

AUTO RELATED

Non-Owned Auto.

Replacement Cost - 

LIABILITY RELATED

Hammer Clause - 

Hammer Clause - 

Hammer Clause - 

Third Party - 

Loss Exposure - A condition that represents the possibility a person or organization will experience a loss, to something a person or organization has a financial intersest in and can result from, amongst other things, property damage, loss of key personnel, net income reduction or a claim made against a person or organization for financial damages

Loss Exposure - A condition s

Commercial Package Policy (CPP) - 

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Actual Cash Value (ACV)

Hammer ClauseA provision requiring an insurer to seek an insured's approval prior to settling a claim for a specific amount. If, upon approval request, the insured does not approve the recommendation, the hammer - aka consent to settlement clause - states the insurer will not be liable for any additional defense costs that accrue from the point of the settlement recommendation or for additional funds required to settle the claim after that point

Hammer Clause - 

Hammer Clause - 

Hammer Clause - 

Businessowners Policy (BOP) - Multiline/package policy that includes most property and liability coverages small and midsize businesses need. Can be thought of similarly to a homeowners policy with largely standard coverages and simplified rating; packaging to provide economy in process, forms, services, etc. can mean lower cost.

Coinsurance - A s

Loss Exposure - A co

GENERAL

Hired Auto -