Property
Coverage for property that belongs to someone else while it is in the care of the insured at the insured premises
What is Property of Others
Provides insurance for loss of net profits and continuing expenses (including necessary payroll) due to a suspension or interruption of business due to a covered loss
What is Business Income
Covers claims that occur during the policy period regardless of when the claim is made
What is Occurrence
Compensation benefits for certain maritime workers including most dock workers
What is USL&H
Liability for any auto used in the insured business
What is Symbol 1
Insurance covering the loss suffered by a tenant due to termination of a favorable lease because of damage to the leased premises by a covered loss
What is Leasehold Interest
Business income coverage that covers the actual loss sustained as a result of a suspension or interruption of business due to a covered loss
What is Actual Loss Sustained
automatically grants additional insured status to a person or organization that the named insured is required by contract to add as an additional insured
What is blanket additional insured
Coverage for property entrusted to the insured for storage, repair or servicing
What is Bailee's
Coverage for physical damage done to a vehicle while you are renting it
What is Hired Car Physical Damage
A clause in insurance contracts that ensures that policyholders insure their property to an appropriate value in order to not be subject to a penalty at the time of loss
What is Coinsurance
Business income coverage for loss resulting from damage from a covered cause of loss to the premises of another organization on which the insured depends, such as a key supplier or customer
What is Dependent Properties
Covers losses arising out of the contamination of the environment
What is pollution
Insurance to protect individuals who are responsible for creating, managing and administering employee benefit plans within an organization
What is Fiduciary Liability
Covers your liability when the personal vehicle of an employee is used for company business
What is Non-owned auto coverage
A property value that you and your insurance company agree upon at the beginning of your policy period. Agreed value suspends a coinsurance provision
What is agreed value
Business interruption for a landlord, assuring continuous income while the building is un-tenantable
What is Loss of Rental Income
Provides an additional layer of protection by covering costs that go beyond your other liability coverage limits
What is Umbrella Liability
Extension of EPL insurance for claims brought by customers, clients (non-employees) for similar allegations
What is Third Party EPLI
An endorsement designed to provide non-owned auto coverage under a commercial auto policy similar to what would be provided under a personal auto policy. Commonly used when an executive, for example, does not carry personal auto insurance because they are furnished a company auto
What is Drive other car
A single limit of insurance that covers more than one type of property at the same location, the same kind of property at multiple locations, or multiple kinds of property at two or more locations
What is blanket coverage
Pays for additional costs of keeping a business in operation after a loss, either at the insured’s location or at a substitute location
What is Extra Expense
Means that a policy must pay before other applicable policies and without seeking contribution from other policies
What is Primary & Non-Contributory
Insures against theft of money, securities and property caused by an unauthorized and fraudulent entry of data or computer instructions within your computer system
What is Computer Fraud
Endorsement used to afford primary liability coverage for a scheduled auto owned by an employee and leased to the insured
What is Employee as lessor