Conditions are terms of insurance contracts that impose obligations an insured person must satisfy in order to preserve coverage.

As applied to insurance, the withholding from an insurance company of information pertinent to a risk.

Any form of insurance (usually auto insurance) that is required by law.

A form of liability insurance for individuals which insures the policyholder in the event he has become liable to pay money for damage or injury he has caused to others. This form does not include automobile liability, but does cover…

A policy particularly suited to a manufacturer, contractor or large wholesaler or retailer providing broad coverage for claims made against him for bodily injury or damage to property of others for which he may become liable and which arise out…

Compensation based upon amount of production, e.g., independent insurance agents are compensated on the basis of a percentage of the premium. The percentage varies with different lines of insurance.

An all risk and all inclusive policy applicable to stocks of wholesalers, distributors and retailers. Coverage is basically fire, extended coverage, theft and “all other perils.” Sometimes called Commercial Block or Mercantile Block.

Property used in a business which requires it to be moved from place to place, may be insured on one of the forms of commercial property floaters. A television studio, for example, may require insurance on their equipment even though…

Refers to insurance for businesses, organizations, institutions, volunteer groups, governmental agencies, and other commercial establishments.