Insurance coverage for accountants to protect against liability lawsuits arising from their professional activities.
All Risk or All Peril insurance covers each and every loss except for those specifically excluded, providing the broadest type of property protection available.
Commercial credit insurance provides coverage for an insured firm if its business debtors fail to pay their obligations.
Compulsory insurance refers to insurance coverage mandated by law. It requires individuals or businesses to possess a minimum amount of insurance to cover specific risks and liabilities, ensuring financial protection and compliance with regulatory standards.
A court bond, also known as a judicial bond, is a form of surety bond that ensures compliance with a court's orders and protects against potential financial losses from legal proceedings.
Extra Expense Insurance is designed to protect businesses by covering additional expenses incurred due to unforeseen emergencies, ensuring continual operations.
Coverage for a lender who has accepted property on the floor of a merchant as security for a loan. It indemnifies the lender if the merchandise is damaged or destroyed, with the policy being on an all-risk basis.
Insurance cover against the occurrence of certain specified events. The most common examples of general insurance relate to the risks of fire, automobile damage or loss, and theft.
Group Credit Insurance is a coverage issued to a creditor on the lives of multiple debtors for outstanding loans. In the event of a debtor's death before repayment, the policy pays the remaining loan amount to the creditor. This type of insurance contract covers an entire group of debtors instead of individual policies for each debtor.
Indemnity is a legal agreement whereby one party agrees to compensate another for any losses or damages that have occurred or might occur in the future. In the context of insurance, it involves securing against potential financial liabilities.
An indemnity sold by a financial institution to protect the purchaser against the effects of future interest rate movements. It allows customers to specify the terms of protection.
Key Person Life and Health Insurance is a type of business insurance coverage designed to protect companies from the financial loss that can occur if a key employee becomes disabled or passes away.
Malpractice insurance provides coverage for professionals against claims of negligence, mistakes, or failure to perform their professional duties, protecting them from potential legal and financial repercussions.
An individual or entity that owns an insurance policy and has the right to exercise the policy's privileges.
Coverage that protects an insured party in the event that their negligent acts or omissions result in damage or destruction to another's property.
A rate cap refers to a predetermined limit placed on the increases and decreases in the interest rate for an adjustable-rate mortgage (ARM), providing a level of protection to the borrower against significant rate changes.
The Securities Investor Protection Corporation (SIPC) is a nonprofit corporation supported by its membership of securities brokers and dealers. It was developed to protect their customers and to promote confidence in the securities markets. In principle, SIPC provides certain amounts of insurance on cash and securities left on deposit in a brokerage account. This insures investors against the failure of the brokerage firm but not against a decline in the value of securities.
An individual who has insufficient insurance coverage to fully compensate for losses in the event of life or property damage.
