Definition 1 of 81
ones who haul their own goods or goods entrusted to them as bailees or lessees and includes
shippers who own or lease their vehicles and carry their own goods.
Exempt carrier
Common carrier
Private carrier
Livery service
Term 2 of 81
Loading
an additional rate charged over and above the fire rate
businesses which attract a large number of customers to an area
building improvements, alterations and betterments made at the expense of or purchased
by the insured to a building occupied by the insured and which are not otherwise insured,
provided the insured is not the actual owner of such building
adds additional coverages to those already in place
,Definition 3 of 81
A person is guilt of forgery if he fraudulently alters any writing of another without his authority or
makes completes, executes authenticates issues or transfers any writing so it purports to be the
act of another who did not authorize that act
Forgery
Robbery
Theft
Burglary
Term 4 of 81
Soft market
characterized by intense competition between insurers. As a result, rates tend to be low.
subjective characteristics of the applicant that could cause a peril to occur.
Refers to the protection provided to areas within the building where valuable property is
being stored.
"...deterioration or depreciation (i.e. value by ordinary and reasonable use of the subject
matter.)
, Term 5 of 81
Ordinary Payroll Expense
one that carries, for pay, the goods of certain customers only as contrasted to a common
carrier that carries the goods of the public in general.
Inland transportation insurance means insurance, other than Marine insurance, against loss
of or damage to property while in transit or during delay incidental to transit.
Is the entire payroll expense for all employees of the Insured, except officers, executives,
department managers, employees under contract and other important employees whose
services would no be dispensed with should the business be interfered or interrupted
all structural members including floors, roofs and their supports are constructed of steel,
iron, concrete or other non-combustible materials. Exterior also required to be of non-
combustible construction. Falls just short of classifying as fire resistive.
Definition 6 of 81
the maximum amount an Insurer will pay in only one disaster or occurrence.
All property
Catastrophe limit
Hard market
Hazard
Definition 7 of 81
Electrical protection is concerned with settling up electronic barriers to restrict unauthorized
access to property.
Physical protection
Electronic attack
Electronic protection
Adverse selection
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