22 May Rating Territory
A geographical grouping in which like hazards tend to equalize and permit the establishment of an equitable rate for the territory....
A geographical grouping in which like hazards tend to equalize and permit the establishment of an equitable rate for the territory....
A policy issued at a higher premium to cover a person classified as a greater-than-average risk, usually due to impaired health or a dangerous occupation....
A charge per unit in determining insurance premiums....
An occurrence that triggers an insured’s protection....
The primary cause of loss or damage. Proximate cause involves an unbroken chain of events between the occurrence of an insured peril and damage to property. For example, water damage caused by firefighting is covered under the fire policy because fire was the proximate cause...
Details of an insurance policy that explain the benefits, conditions and other features of the insurance contract....
The cancellation of an insurance policy with the return of the full proportion of premium for the unexpired term of the policy. In pro rata cancellations, there’s no penalty for early cancellation....
First-party insurance for real and personal property against physical loss or damage....
In the general liability policy, a physical injury to property, resulting in the loss of use....
An agreement by an insurance carrier to protect an insured against legal liability for damage by his automobile to the property of another....