Insurance policy which is in effect, and has not expired or been cancelled.
Loss resulting from a peril, but not caused directly or immediately by the peril. For example, loss of property due to fire is a direct loss, while the loss of rental income as the result of the fire would be…
A contract, express or implied, to repay in the event of a loss. Insured neither gains nor loses.
Party entering into indemnity agreement with a second party, securing second party against loss.
To compensate the insured person for a loss, in whole or in part, by payment, repair, or replacement.
An event which, under different circumstances, could have resulted in harm to people, damage to property or equipment, or loss of process or productivity – for example, almost hitting a pedestrian with a car or a slip and fall that…
The date and time on which coverage under an insurance policy takes effect.
Malicious setting on fire or preparing, providing and setting the means for fire to start.
Additions or changes to a rented premises by a tenant at his own expense. Also called Tenant’s Improvements.