Scheduled Coverage - CORRECT ANSWER-Refers to policy on which coverage is provided only on that property which is specifically identified or scheduled
Property of Every Description - CORRECT ANSWER-Refers to policy used to insure building, stock, and equipment under a single limit of insurance
...
Scheduled Coverage - CORRECT ANSWER-Refers to policy on which coverage is
provided only on that property which is specifically identified or scheduled
Property of Every Description - CORRECT ANSWER-Refers to policy used to insure
building, stock, and equipment under a single limit of insurance
All Property (Blanket) - CORRECT ANSWER-A policy under which all property owned
by the insured is covered or blanketed by a single limit of insurance
Tenants Improvements - CORRECT ANSWER-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, providing the insured is not the
actual owner of the building.
Actual Cash Value - CORRECT ANSWER-The replacement or repair costs less
depreciation
Replacement Value - CORRECT ANSWER-Represents the cost to repair, replace or
rebuild the lost or damaged property without depreciation
Reinsurance - CORRECT ANSWER-Involves an Insurer ceding part of the risk it has
assumed to one or more other Insurers
Subscription - CORRECT ANSWER-An Insurance policy under which a group of
Insurers has agreed to participate in providing policy Insurance coverage.
Condition - CORRECT ANSWER-Something imposed by the Insurer which requires the
Insured to do or not to dosomething
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller remojudytask. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £8.13. You're not tied to anything after your purchase.
