Mike Petruccelli says a Business Auto Coverage Form is a form which is a part of the Commercial Auto Coverages and is designed to cover the auto exposures of businesses, other than truckers or garages.
Mike Petruccelli says Burglary is as iti s defined in Crime insurance policies, the taking of property by a person unlawfully entering or leaving the premises, as evidenced by visible signs of forced entry or exit.
Mike Petruccelli says it is the primary coverage form of the Commercial Package policy’s Commercial Property Coverage part. Covers a buiness’s buildings, business personal property and personal property of others.
Mike Peturccelli says, a Builders Risk Coverage Form is insurance that provides coverage for buildings under construction as well as equiptment to service the building, owned materials and supplies, and temporary structures used in construction. Part of the Commercial Property portion of the Commercial Package Policy.
Mike Petruccelli says it is insurance which covers the insured against loss (liability and physical damage) arising out of the use of steam boilers or other machinery. Part of the Commercial Package Policy.
Mike Petruccelli says it is usually defined to include physical harm, sickness, disease, or death resulting from any of these.
A Blue Sky Bond is a surety bond that required of investment companies, guaranteeing against misrepresentation of securities and defrauding the public.
Blanket Insurance is where a single amount of insurance applies to two or more coverage items. Contrast Specific insurance. Also a type of Employee Dishonesty coverage that covers loss caused by any employee. Contrast Name Schedule coverage and Position Schedule coverage.
A Binder is an oral or written statement providing immediate insurance protection, valid for a specified peroid. Designed to provide temporary coverage until a policy can be issued or denied.
Mike says, Bid bonds a type of Contract bond which guarantees the obligee that if a contractor’s bid is accepted, the contractor will provide the required Perforamnce bond.