Tag: insurer
Yearly Renewable Group Term Insurance
What is 'Yearly Renewable Group Term Insurance ' A type of insurance policy purchased by employers to cover several people at a...
Yearly Renewable Term Plan of Reinsurance
What is 'Yearly Renewable Term Plan of Reinsurance' A type of life reinsurance where mortality risks are transferred to a reinsurer. In...
Malpractice Insurance
DefinitionProfessional liability insurance, also called professional indemnity insurance but more commonly known as errors & omissions in the US, is a form of liability...
Abandonment Clause
What is 'Abandonment Clause' A clause in a property insurance contract that, under certain circumstances, permits the property owner to abandon lost...
Cancellation Provision Clause
What is 'Cancellation Provision Clause' It is a provision in an insurance policy that permits an insurer or an insurance company to...
Cancelable Insurance
What is 'Cancelable Insurance' This is insurance that may be canceled, at any time, by the insured party or by the insurance...
Waiver Of Coinsurance Clause
Waiver Of Coinsurance Clause What is 'Waiver Of Coinsurance Clause ' Language in an insurance policy that says the insurance company...
Water Damage Clause
What is 'Water Damage Clause' A clause in a property-casualty insurance contract. A water damage clause states that the insured is covered...
Waiver Of Subrogation
What is a 'Waiver Of Subrogation' A waiver of subrogation is a contractual provision where one party agrees to limit the rights...
Gap Insurance
DefinitionGuaranteed Auto Protection insurance was established in the North American financial industry. GAP insurance is the difference between the actual cash value of a...