Translate INSURANCE–EZE INTO BUSINESS–EASE
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Departure from ordinary standard of care in the performance of a professional service. A practitioner is liable for damage or injuries caused by malpractice. For some professions, this type of liability can be covered by insurance.
Alleged professional misconduct.
A provision that may be used in the property damage insurance form covering certain risks; it obligates the insurance company to recognize the established market value of the destroyed and damaged stock as its actual cash value as of the date of loss, and to adjust the loss accordingly.
An insurance company agrees to take into consideration the fair market value of a covered loss when determining its current cash value.
A policy issued to an insured to cover property at more than one location. If locations are in more than one state, it is customary to issue underlying policies in the respective states to meet legal requirements.
A policy that creates a group insurance plan for designated members of an eligible group.
Coverage available in various forms against expenses incurred for medical treatment and care as a result of bodily injury or illness, e.g., major medical expense, surgical expense, and hospitalization insurances.
Insurance that covers expenses for medical treatment.
Willfully misleading the insurance company with regard to information affecting the acceptance of a risk, the issuing of a policy, or the settling of a claim.
Knowingly making false statements about the facts of a business, property or claim.
This provides insurance for loss of money and securities resulting directly from the theft, disappearance and destruction. It applies while the money and securities are on the insured's premises, while in the custody of the insured or the insured's messenger, while conducting business at the bank, and while off the insured's premises in the custody of the insured or the insured's messenger.
Insurance in case any of your firm’s money or securities is stolen, disappears or is destroyed, either while on your premises or in the care of a messenger.
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.