New Jersey Property And Casualty Insurance Exam With 100% Correct Answers 2023.
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Nj Property And Casualty
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Nj Property And Casualty
New Jersey Property And Casualty Insurance Exam With 100% Correct Answers 2023.
Bail
a security depost that guarantees the appearance of a defendant in court for trail, forgeited if the defendant fails to appear for trail; also the act of delivering goods to another to be helf in trust for a sp...
new jersey property and casualty insurance exam wi
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New Jersey Property And Casualty Insurance
Exam With 100% Correct Answers 2023.
Bail
a security depost that guarantees the appearance of a defendant in court for trail,
forgeited if the defendant fails to appear for trail; also the act of delivering goods to
another to be helf in trust for a special purpose
bailee
a person one who has care, custody, or control of another's property, usually for repair,
cleaning, processing, storage, ro service
bailee's customer policy
this provides coverage for loss of or damage to property of others that is in the care,
custody, or control of a bailee
bailor
the owner of property who delivers it in trust to a bailee for a special purpose
banker's blanket bond
this provides protection for financial institutions and similiar organiziation against
employee and non emoloyee dishonesty
bankruptcy
the legal process that determines and oversees the distribution of an insolvent person's
or company's assets to creditors. after distribution, the person or company is relieved of
all libaility to these creditors, even though some payments may have been less than the
full obligation
bankruptcy clause
insruance policy clause that stipulates that the bankruptcy or insolvency of the insured
does not relieve the insurance company of any of its obligations under the policy
betterment
an improvement to property that puts it in a better condition than it was before the
occupancy or loss. for example, a renter's redesign of an office space to accomodate
his needs. see also improvements and betterments coverage
binder
a written or oral acknowledgment of insurance in force and evidence of acceptance of
the applicant's offer to purchase the insurance, whether or not premium settlement has
been reach and pending issuance of the policu.
blanket crime policy
this provices coverage against dishonesty, with money and securities coverage and
forgery coverage, covering all employees
blanket insurance
a property liability policy extending to more than one location, class of property or
employee, without specigfically naming the location, class, or employee. see also
specific insurance.
blankey position bond
an employee dishonesty bond that covers all employees of the insured and provides
protection for the insured from dishonest acts of those employees, without specifically
naming the employees or their positions.
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