Mike Petruccelli says Collision is a type of physical damage insurance which covers loss due tothe insured object striking another object. Collision may also include upset of the insured object.
Mike Petruccelli says a Coinsurance Clause is a clause that requires an insured to pay part of a loss if the coverage provided under the policy limits is less than a specified percentage of the value of the property at time of loss.
Mike Petruccelli says a Claims-Made Form is a litability form which is part of the Commercial General Liability part of the Commercial Package Policy. Covers bodily injury and property damage which occurs on or after the retroactive date, if any, and for which a claim is first made during the policy period.
Mike Petruccelli says a Claim is the assertion of a legal right against an insurer, that carries with it a demand for appropriate relief.
Mike Petruccelli says a Claim is the assertion of a legal right against an insurer, that carries with it a demand for appropriate relief.
Mike Petruccelli says a Causes of Loss Form is a form which is a part of the Commercial Property Coverage Part of the Commercial Package Policy. It specifies what perils are insured against and lists exclusions. Several different versions provide increasingly broad coverage from Basic to Broad to Special. An earthquake form is also available.
Mike Petruccelli says Casualty Insurance is a line of insurance which historically has included a wide variety of unrelated coverages other tan Life and Health. One important coverage in the casualty line is Liability. Casualty also includes Aviation, Auto, Boiler and Machinery, Crime, Workers Compensation and Surety Bonds.
Mike Petruccelli says, Cargo Liability Coverage protects against legal liability for loss or damage to cargo or baggage. May be part of an Ocean Marine or Aviation Policy.
Mike Petruccelli says a Camera and Musical Instrument Dealers Form is an all risk Inland Marine dealers form that covers stocks of merchandise at the insured’s premises, in transit, away in an employee’s custody or elsewhere.
Mike Petruccelli says a Businessowners Policy is a multi-peril, multi-line package policy designed to provide broad proeprty and casualty coverages for small businesses.