Describes the intent of the policy, just what insurance coverage is provided by the policy and in what limits.

A written contract of insurance.

An interest which the insured must have in the subject matter of the insurance he buys so that if the event insured against occurs, the insured will suffer a pecuniary loss.

An insurance company employee who examines physical risks and reports on them for underwriting purposes. In some companies, this is done by the Special Agent or Field Representative.

Independent checking of facts about an applicant or claimant, usually by a commercial inspection agency.

An agreement intended to ensure that both parties understand the activities being undertaken and the risks associated with them. Often used in conjunction with a waiver or hold-harmless and indemnifying agreement.

Coverage for movable property in transit, excluding ocean crossing; includes bridges and tunnels, because they are implements of transportation.

The quality that something has to deteriorate or damage itself without outside help, e.g., milk sours; coal combusts spontaneously.

An explosion caused by the normal processes of a risk as opposed to one caused by external causes, e.g., a dust explosion in a grain elevator.