Translate INSURANCE–EZE INTO BUSINESS–EASE
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Bodily Injury Liability Insurance
Boiler and Machinery Insurance
Business Interruption Insurance
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One who has temporary possession of property belonging to another. Bailees have different degrees of liability for such property.
A person who is temporarily responsible for someone else’s property.
A legal agreement issued either by an agent or a company to provide temporary insurance until a policy can be written. It should contain a definite time limit, should be in writing, and should clearly designate the company in which the risk is bound as well as the amount, the perils insured against, and the type of insurance.
Written proof of insurance either an agent or company can give you until your policy is actually issued.
Protection against loss arising out of the liability imposed by law upon the insured for damages due to bodily injury, sickness or disease sustained by any person or persons (other than employees).
Covers your business if it is found responsible for the sickness, injury or death of someone other than your employees.
Insurance against loss arising from the operation of pressure vessels and mechanical and electrical equipment.
Protects against the sudden and accidental breakdown or explosion of many different kinds of equipment, including boilers, machinery, electrical equipment, pressure vessels, computers, fax machines, and computerized telephone systems. Now called “Equipment Breakdown Insurance.”
A contract that guarantees the performance of an obligation, or protects against dishonesty of employees.
A written agreement that guarantees you’ll do what you say you’re going to do or that your employees will be honest.
This special form is designed for the entity that needs coverage for property that is undergoing construction, renovation or repair. It covers hard property costs as well as soft costs. Does not typically cover such perils as earthquake and flood, although these coverages may be purchased separately.
This type of insurance can protect the “property” it takes to build, renovate or repair a building, such as building supplies, construction equipment, scaffolding, and the structure itself. It may cover damage to the property as well as the cost to advertise and finance a construction project after a loss.
Generally defined in policies as breaking and entering the premises of another, with felonious intent and with visible signs of the forced entry, while the premises are closed for business.
When someone breaks in and damages or steals your property while your business is closed.
Covers fixed expenses and the loss of profit in the event physical property is damaged by a named peril; requires that the business be shut down in whole or in part as a direct result of the named peril.
Can reimburse you for lost earnings if your business is forced to shut down because of a fire, windstorm, explosion or other insured loss.
The definitions contained herein are for informational purposes only,are not intended to be all inclusive, and may not apply in all situations. You should not rely on these definitions for interpretation of policy coverages, terms and conditions.