http://insuranceforclassiccar.wetpaint.com/pageSearch/updatedRecently Updated Pages on http://insuranceforclassiccar.wetpaint.comen-usinfo@wetpaint.comSun, 10 Feb 2008 18:57:57 CSTSun, 10 Feb 2008 18:57:57 CSTwetpaint.com60http://image.wetpaint.com/image/1/q47xnoDMKwfJudBfg1tgGQ15244http://insuranceforclassiccar.wetpaint.comInsurance for classic cars http://insuranceforclassiccar.wetpaint.com/page/Cars+for+Saleinsuranceforhttp://insuranceforclassiccar.wetpaint.com/page/Cars+for+SaleMoved from: Insurance for classic carSun, 10 Feb 2008 18:57:57 CST<a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.all-new-car.com/" rel="nofollow" target="_blank"> </a><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.all-new-car.com" rel="nofollow" target="_blank"><font size="2">New Cars </font></a><br><br><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.all-used-car-dealer.com" rel="nofollow" target="_blank"> </a><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.all-used-car-dealer.com" rel="nofollow" target="_blank"><font size="2">Used Cars</font></a><br><hr size="1"><br/>http://insuranceforclassiccar.wetpaint.com/page/Insurance+for+classic+carinsuranceforhttp://insuranceforclassiccar.wetpaint.com/page/Insurance+for+classic+carThu, 07 Feb 2008 09:44:45 CST <div align="left"><div align="center"> </div><table cellpadding="0" cellspacing="0" class="table" width="509"> <tbody> <tr> <td align="center" bgcolor="#bbbbc1" colspan="2" width="100%"><font color="#ff0000"><u>Top 3 Pick of Most competitive Insurance for Classic Cars<br></u></font></td> </tr> <tr> <td colspan="2" width="100%"> <font color="#ff0000"><u> <font size="2"> <br></font></u></font><font color="#ff0000">..</font><font color="#ff0000"> </font> </td> </tr> <tr> <td class="text_black" width="27"> <font face="Arial Unicode MS" size="2"><b>1.</b> </font></td> <td class="text_black" width="482"> <b> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.anrdoezrs.net/2b74r09608OQTQQPPPOQUUWRU" rel="nofollow" target="_blank"> <font color="#0000ff" size="3">Classic Car Insurance Automobile Insurance Quotes</font></a></b><font face="Arial Unicode MS" size="2"><font color="#000000" size="3"><font color="#0000ff"><b><br></b></font>Click here for great classic automobile insurance quotes. We offer free multiple insurance quotes online from nationwide insurance companies with low rates and great coverage.</font><br> </font> <font color="#0000ff"><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.anrdoezrs.net/2b74r09608OQTQQPPPOQUUWRU" rel="nofollow" target="_blank"> <font size="2">Netquote.Com</font></a></font><font face="Arial Unicode MS" size="2"><br><br><br> </font></td> </tr> <tr> <td class="text_black" width="27"> <font face="Arial Unicode MS" size="2"><b>2.</b> </font></td> <td class="text_black" width="482"><font face="Arial Unicode MS" size="2"><b><font face="Garamond" size="4"><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurance.com/" rel="nofollow" target="_blank"><font color="#0000ff">Classic Car Insurance Quotes</font></a></font></b><font size="3"><font color="#0000ff"><b><br></b></font>Answer Financial offers side-by-side quotes from leading auto insurance companies nationwide. Find the right coverage at competitive rates. Shop and compare.Classic Car Insurance Quotes</font></font><font size="3"> </font><font color="#ff0000"><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.tkqlhce.com/oe101y1A719PRURRQQQPRQTQXTQZ" rel="nofollow" target="_blank"><font size="2">Insurance.com</font></a></font><font face="Arial Unicode MS" size="2"><font color="#ff0000"><br><br><br></font> </font></td> </tr> <tr> <td class="text_black" width="27"> <font face="Arial Unicode MS" size="2"><b>3.</b> </font></td> <td class="text_black" width="482"><font color="#000000"><b><font size="3"><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.anrdoezrs.net/click-1411000-10293383" rel="nofollow" target="_blank"> Classic Car Insurance</a></font></b></font><font color="#0000ff" face="Arial Unicode MS" size="2"><font size="3"><b><br></b>Protect your collector car for less, with more money in your pocket. Various mileage plans available. 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Get a free quote today.</font><br> </font> <font color="#0000ff"><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.anrdoezrs.net/click-1411000-10293383" rel="nofollow" target="_blank"> <font size="2">21st Century Insurance Company</font></a></font><font color="#0000ff" face="Arial Unicode MS" size="2"> <br> <br><br><br><br><br> </font></td> </tr> <tr> <td colspan="2" width="100%"><br></td> </tr> <tr> <td colspan="2" width="100%"> <a class="external" href="http://www.insuranceforclassiccar.com/insuranceforclassicpartner.html" rel="nofollow" target="_blank"><font size="1">Partners Directory</font></a> <a class="external" href="http://www.insuranceforclassiccar.com/contactus.html" rel="nofollow" target="_blank"><font size="1">Contact Us</font></a><font face="Arial Unicode MS"><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.monsterlinkserver.com/userlinks.php?userkey=2001012938" rel="nofollow" target="_blank"> <font size="1">Automatic</font></a> <font size="1"><br><br><br><br>Copyright &copy; 2006 Insurance for classic car. ..All Rights Reserved.</font></font> <font face="Arial Unicode MS" size="1"><br> </font> <font size="1"> <a class="external" href="http://www.insuranceforclassiccar.com/" rel="nofollow" target="_blank">Insurance for classic car</a></font> <font face="Arial Unicode MS" size="1">*</font> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.quoteinsuranceauto.com/" rel="nofollow" target="_blank"> <font size="1">Classic car Insurance</font></a> <font face="Arial Unicode MS" size="1">*</font> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.auto-insurance-specialist.com/" rel="nofollow" target="_blank"> <font size="1">Auto Insurance</font></a> <font face="Arial Unicode MS" size="1">*<br> </font> <a class="external" href="http://www.insuranceforclassiccar.com/robots.txt" rel="nofollow" target="_blank"><font size="1">r</font></a><font size="1"> Insurance for classic is a leading provider of Classic auto Insurance </font> <u><b><font size="1">Servicing Areas</font></b></u> <font size="1">San Gabriel Valley Insurance For Classic Car , Pasadena Insurance For Classic Car , Simi valley Insurance For Classic Car , Insurance For Classic Car , Burbank Insurance For Classic Car , Insurance For Classic Car contractors, Copper re-pipe specialists, Local Insurance For Classic Car , 911 Insurance For Classic Car , Sewer lining, Glendale Insurance For Classic Car , San Fernando Valley Insurance For Classic Car , Insurance For Classic Car in Thousand oaks, Emergency Insurance For Classic Car service, Hollywood Insurance For Classic Car , Valencia Insurance For Classic Car company, Santa Clarita Insurance For Classic Car , Water leak detection, Los Angeles Insurance For Classic Car , Rocket Rooter, Insurance For Classic Car in Los Angeles, North Hollywood Insurance For Classic Car , Valley Insurance For Classic Car , La Canada Insurance For Classic Car , The best Insurance For Classic Car , Drain cleaning, Lateral lining, Eagle Rock Insurance For Classic Car , Arizona Insurance For Classic Car company, Texas Insurance For Classic Car , Santa Clarita Insurance For Classic Car , Valencia Insurance For Classic Car , Moorpark Insurance For Classic Car , trench less sewers, pipe bursting, faucet repair, nationwide Insurance For Classic Car , La Crescenta Insurance For Classic Car , Tujunga Insurance For Classic Car , Sunland Insurance For Classic Car , Toluka Lake Insurance For Classic Car , Insurance For Classic Car service, lax Insurance For Classic Car , dial 911 Insurance For Classic Car , hollywood Insurance For Classic Car , west los angeles Insurance For Classic Car , west hollywood Insurance For Classic Car , san diego Insurance For Classic Car , san diego Insurance For Classic Car company, Prime Liner, Perma Liner, granada hills Insurance For Classic Car , Woodland Hills Insurance For Classic Car , Winetka Insurance For Classic Car , Agura Hills Insurance For Classic Car Insurance For Classic Car company. 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Bond Insurer Rescue Plan Seen as a Tough Sell but Important</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/national/2008/02/01/86952.htm?ref=feed" rel="nofollow" target="_blank">How E&amp;S Brokers Thrive and Survive in Today&#39;s Soft Market</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/national/2008/02/01/86933.htm?ref=feed" rel="nofollow" target="_blank">Insurance Industry Run by &#39;C&#39; Students? Don&#39;t Tell CPCUs That</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/national/2008/02/01/86953.htm?ref=feed" rel="nofollow" target="_blank">Insurers Say Property, Flood Insurance, Regulation Top Concerns in &#39;08</a></td></tr><tr><td> </td></tr><tr><td bgcolor="#ff0000">East News</td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/east/2008/02/01/86950.htm?ref=feed" rel="nofollow" target="_blank">Conn. AG&#39;s Report Faults Rowland-Era $80M Workers&#39; Comp Deal</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/east/2008/02/01/86946.htm?ref=feed" rel="nofollow" target="_blank">N.Y. Agents and Insurers Laud Workers&#39; Comp Loss Cost Rating Bill</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/east/2008/02/01/86924.htm?ref=feed" rel="nofollow" target="_blank">Virginia Senate Passes Repeal of Abusive Driver Fees</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/east/2008/02/01/86929.htm?ref=feed" rel="nofollow" target="_blank">Maryland County Proposal Calls for Contracts for Domestic Workers</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/east/2008/02/01/86925.htm?ref=feed" rel="nofollow" target="_blank">Third Fire Damages Maine Resort</a></td></tr><tr><td> </td></tr><tr><td bgcolor="#ff0000">Midwest News</td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/midwest/2008/02/01/86935.htm?ref=feed" rel="nofollow" target="_blank">Wis. Senate Passes Bill to Ban Use of Credit Scoring by Insurers</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/midwest/2008/02/01/86957.htm?ref=feed" rel="nofollow" target="_blank">Mo. Legislators Attempt to Block Governor&#39;s Health Care Plan</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/midwest/2008/02/01/86948.htm?ref=feed" rel="nofollow" target="_blank">Kan. Governor Selects New Attorney General</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/midwest/2008/02/01/86932.htm?ref=feed" rel="nofollow" target="_blank">N. D. Governor Names Two Directors for Workers&#39; Comp Board</a></td></tr><tr><td> </td></tr><tr><td bgcolor="#ff0000">Southeast News</td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/southeast/2008/02/01/86931.htm?ref=feed" rel="nofollow" target="_blank">Fire that Destroyed Alabama Animal Shelter Ruled Arson</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/southeast/2008/02/01/86934.htm?ref=feed" rel="nofollow" target="_blank">Court Records: Miss. Lawyer to Take 5th in State Farm Suit</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/southeast/2008/02/01/86936.htm?ref=feed" rel="nofollow" target="_blank">Former Hurricane Program Manager to Head Ala. Emergency Agency</a></td></tr><tr><td> </td></tr><tr><td bgcolor="#ff0000">Texas / South Central News</td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/southcentral/2008/02/01/86940.htm?ref=feed" rel="nofollow" target="_blank">Rebuking Agency, Judge Dismisses Katrina Lawsuit Against Corps</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/southcentral/2008/02/01/86943.htm?ref=feed" rel="nofollow" target="_blank">Fires Flare in Texas While Cleanup Starts on Burned Homes, Businesses</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/southcentral/2008/02/01/86942.htm?ref=feed" rel="nofollow" target="_blank">Unemployment in Okla. Climbs to 4.3 Percent in December</a></td></tr><tr><td> </td></tr><tr><td bgcolor="#ff0000">West News</td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/west/2008/02/01/86947.htm?ref=feed" rel="nofollow" target="_blank">Appeals Court Upholds $10.2 Million Award to Injured Snowmobiler</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/west/2008/02/01/86954.htm?ref=feed" rel="nofollow" target="_blank">Universal North America Expands to Arizona and Nevada</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/west/2008/02/01/86956.htm?ref=feed" rel="nofollow" target="_blank">Mont. Appoints Matthews as Captive Coordinator</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/west/2008/02/01/86955.htm?ref=feed" rel="nofollow" target="_blank">Wash. Regulator Gets More Authority Over Health Insurance</a></td></tr><tr><td> </td></tr><tr><td bgcolor="#ff0000">International News</td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/international/2008/02/01/86928.htm?ref=feed" rel="nofollow" target="_blank">Malaysian Hindu Mother&#39;s Insurance Case Highlights Religious Conflicts</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/international/2008/02/01/86930.htm?ref=feed" rel="nofollow" target="_blank">China&#39;s CNinsure Buys Majority Interests in 2 P/C Insurance Agencies</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/international/2008/02/01/86945.htm?ref=feed" rel="nofollow" target="_blank">Baloise and Gothaer in Merger Talks on German Insurance Operations</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/international/2008/02/01/86927.htm?ref=feed" rel="nofollow" target="_blank">Spaniard Suing for Own Car Damage from Hitting, Killing Bicyclist</a></td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/news/international/2008/02/01/86938.htm?ref=feed" rel="nofollow" target="_blank">Canadian Ski Patrol, Insurance Brokers Issue Safety Warning</a></td></tr><tr><td> </td></tr><tr><td> <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.insurancejournal.com/?ref=feed" rel="nofollow" target="_blank">More Insurance News</a></td></tr></tbody></table> </font><font size="1"> </font><table align="center" cellpadding="0" cellspacing="0" width="250"><tbody><tr><td> <table cellpadding="1" cellspacing="0" width="250"><tbody><tr> <td align="center" width="1%"><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://p.webring.com/t/The-Insurance-Hub" rel="nofollow" target="_blank"> </a><font face="arial" size="-2"><br>&copy; <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://www.webring.com/" rel="nofollow" target="_blank">WebRing Inc.</a></font></td> <td><table cellpadding="0" cellspacing="2" width="100%"><tbody><tr><td><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://p.webring.com/t/The-Insurance-Hub" rel="nofollow" target="_blank"><b>The Insurance Hub</b></a></td> </tr> <tr><td colspan="2"><b><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://p.webring.com/go?ring=insurancehub;sid=9;id=9;prev" rel="nofollow" target="_blank" title="visit previous site in The Insurance Hub">Prev</a></b> | <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://p.webring.com/t/The-Insurance-Hub" rel="nofollow" target="_blank">Ring Hub</a> | <a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://p.webring.com/wrman?ring=insurancehub;sid=9;addsite" rel="nofollow" target="_blank" title="join The Insurance Hub communiy">Join</a> | <b><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://p.webring.com/go?ring=insurancehub;sid=9;id=9;prvw" rel="nofollow" target="_blank" title="Rate this site">Rate</a></b>| <b><a class="external" href="http://insuranceforclassiccar.wetpaint.comhttp://p.webring.com/go?ring=insurancehub;sid=9;id=9;next" rel="nofollow" target="_blank" title="go to next site in The Insurance Hub">Next &gt;&gt;</a></b> </td></tr><tr><td colspan="2"><br></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table><font size="1"> </font><font size="1">Insurance For Classic Car @ copyright</font> </td> </tr> </tbody></table> </div><br><br><font face="Arial, Helvetica, sans-serif" size="2"><b> Accident: </b>One time event which is unintended, unforeseen and unexpected. It is something that is definite in time and place. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Accidental Death and Dismemberment Insurance:</b> A form of insurance providing benefits in the accidental death, or the accidental loss of sight or members (such as an arm or a leg). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Accidental Death Benefit: </b>A lump sum payment for loss of life due to an accident that was the direct cause of death. The cause of the mishap must be accidental for a benefit to be payable under the policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Act of God: </b>An event beyond human origin or control. Lightning, windstorms, and earthquakes are examples. The damage from which would not be the responsibility of a bailee, although the bailee might be responsible for many other calamities. Acts of God are excluded by the usual bill of landing as well as by some insurance policies, unless specifically included. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Actual Cash Value: </b>The basis of loss settlement in property insurance policies which takes into consideration such factors as replacement value less depreciation, market value, rental value, the use of the building, the area in which it is located, obsolescence, assessed validation and any other factor which would have an effect upon the value. A working rule-of-thumb definition, however, is &quot;replacement cost new at the time of loss, less depreciation.&quot; See Replacement Cost Value. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Actuary: </b>A social mathematician who uses mathematical skills to define, analyze and solve complex business and social problems involving insurance and employee benefit programs. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Additional Living Expense Insurance: </b>Insurance for the extra amount it costs and insured to live until repairs are made to the insured&#39;s dwelling </font> <b><font face="Arial, Helvetica, sans-serif" size="2"> Additional Vehicle:</font></b><font face="Arial, Helvetica, sans-serif" size="2"> A vehicle acquired during the policy period in addition to those already listed in the Declarations</font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Adjuster: </b>One who determines the amount of loss suffered. A &quot;company&quot; or &quot;independent&quot; adjuster represents the company. A &quot;public&quot; adjuster represents the policyholder. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Admitted Company:</b> A foreign or alien insurance company which has been licensed by the insurance department of the state in question, and thereby is authorized to conduct business within that state to the extent licensed. Also know as an authorized company. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Adverse Selection: </b>The insuring of one or more risks with a higher chance of loss than that contemplated by the applicable insurance rate. The selection of such risks is adverse because the rate is inadequate. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Age Change: </b>The halfway point between birthdays when the age of the applicant changes to the next higher age. In some insurance companies, the age is based upon the applicant&#39;s ate at his nearest birthday. In others, it is based on the age of his last birthday. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Agent:</b> One who has authority to act for another. The insurance language, an agent is the person who sells insurance by contacting the policyholder, and by contract and by law is endowed with many of the powers of the company itself. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Aggregate Limit:</b> In a policy such an aggregate limit, the maximum amount the insurer will pay during the policy period, irrespective of the policy&#39;s limit of liability. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Agreed Amount Clause: </b>A condition of a policy stating that he insurer agrees to waive the coinsurance requirement in consideration of the insured&#39;s maintaining insurance equal to the amount agreed upon at the inception of the policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> All-Risk Policy:</b> A policy which covers loss caused by any peril which is not excluded, as contrasted to &quot;named peril&quot; policies which protect against certain perils named in the policies. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Annuitant:</b> A person during whose life an annuity is payable. Generally, an annuitant is the person who receives the monthly income payment. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Annuity: </b>A contract providing periodic income payments for a fixed period of time or during the lifetime of an annuitant. In may be defined as the systematic liquidation of an estate. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Annuity, Cash Refund:</b> A life annuity contract which provides that upon the death of the annuitant, the beneficiary (or his estate) will receive a lump sum payment which represents the difference between the amount the annuitant paid to the insurance company and the total income payments received by the annuitant. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Annuity, Certain: </b>Payable for a minimum specified period and continuing thereafter throughout the lice time of the annuitant. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Annuity, Deferred:</b> Payments commence more than one year after the payment of the firs (or single) premium to the insurance company, usually at a selected retirement age. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Annuity, Installment Refund: </b>Similar to a cash refund annuity, except that money is refunded in installment payment and the insurance company makes payments to the designated beneficiary until the total of the payments made to the annuitant and the beneficiary equals the consideration paid. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Annuity Joint and Last Survivor:</b> An annuity issued on the lives of two or more persons, which is payable as long as one of them survives. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Application: </b>A form filled out and signed by a prospective insured which becomes part of the policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Appraisal Clause:</b> The clause in a policy that sets forth the conditions under which a disputed loss is decided by appraisers. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Appraiser: </b>1) A person who determines the value of property or 2) A party who determines the amount of a disputed loss. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Assessment: </b>The charge levied by an insurer writing an assessable policy (as sold by some mutual insurers), in addition to the policy premium, in the event the insurer becomes unable to pay its total losses. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Assignee:</b> A person, firm, of corporation to whom the rights under contract are assigned in their entirety or in part.</font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Assignment: </b>Transferring property rights to another. Insurance policies may thus be assigned or transferred to another, but usually this requires the consent of the insurer. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Assumed Liability: </b>Contractual liability, which arises from agreement between people as opposed to liability which, arises from common or statute law. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Assured: </b>The person or party protected by a policy of insurance. Same as insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Attained Age:</b> An age which a person or insured has attained on a given date. For life insurance purposes, the age is based on either the nearest birthday or the last birthday, depending on the practices of the insurance company involved. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Automatic Premium Load (Automatic Premium Advance): </b>A provision in a life insurance policy which states that if an insured fails to pay a premium by the end of the grace period, the amount of the premium due will be loaned to the insured automatically. However, the loan value of the policy must be sufficient to cover the loan plus interest. Generally, the insured must request that the clause be made a part of the policy at the time of application. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Aviation Clause: </b>A clause that limits the liability of the insurance company if certain types of aviation accidents cause the death of an insured. </font> <font face="Copperplate Gothic Light" size="5"><b> <font color="#660000">B</font></b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Bailee: </b>One who has custody of the property of another to be held and returned to the owner in good condition. The owner who delivers the property is called the bailor; the one who receives it is the bailee. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Bailor: </b>A person entrusting goods to another. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Barratry:</b> Willful and illegal sinking, casting away, or damaging a ship at sea or its cargo. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Beneficiary, Contingent (Secondary): </b>A parson who is entitled to benefits only after the death of a primary beneficiary. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Beneficiary, Irrevocable: </b>The insured may not change the designated beneficiary without the beneficiary&#39;s consent. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Beneficiary, Primary: </b>A person who is entitled primarily to benefits upon the death of an insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Beneficiary, Revocable: </b>The designated beneficiary may be changed at the insured request without the consent of the beneficiary. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Beneficiary, Tertiary: </b>The person who entitled to the policy benefits if the primary and contingent beneficiaries predecease the insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Bid Bond: </b>A bond intended to guarantee that the bidder on a construction, supply or service contract would enter into the contract if successful as a bidder. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Binder:</b> An oral or written agreement to insure which serves as evidence of coverage prior to the issuance of a policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Binding Authority: </b>The right on e party (usually an agent) has to represent another (usually the insurer) in effecting or creating an insurance contract. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Binding Receipt: </b>Insurance becomes effective on the date of the receipt and continues for a specified period of time until the company disapproves the application. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Blanket Insurance: </b>A single amount of insurance covering several items (e.g. one amount of insurance to cover two buildings, or one building and its contents) </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Blanket Position Bond: </b>A fidelity bond, which insures an employer against loss from dishonest acts by employees. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Bodily Injury:</b> Injury, sickness, or disease sustained by a person, including death at any time resulting therefrom. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Bond, Fidelity: </b>An insurance policy that reimburses an employer for employee theft, embezzlement, or dishonesty. May be written to cover specific employees or all employees. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Bond, Surety:</b> A written agreement wherein on part, called the surety, obligates itself to a second party, called the obligee or beneficiary, to answer for the default of a third party, call the principal. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Broker:</b> A licensed, legal representative of the insured who negotiates with underwriters on behalf of the insured. Nevertheless, the broker receives a commission from the insurer (underwriter). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Builders Risk:</b> A special form dealing with the unique loss exposure of property under construction. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Burglary: </b>Theft by forcible and illegal entry, evidenced by visible signs made by tools, explosives, electricity, or chemicals. </font> <b><font face="Arial, Helvetica, sans-serif" size="2"> Business: </font></b><font face="Arial, Helvetica, sans-serif" size="2">A trade, profession or occupation. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Business Use: </b>The use of a vehicle for the purposes of the business or occupation. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>By Order Of Civil Authority: </b>A directive of city officials or other civil authority that a building may be destroyed by the fire department to present the spread of conflagration. </font> <font color="#660000" face="Copperplate Gothic Light"><b> <font size="5">C</font></b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Cancellation: </b>The termination of a contract before its normal ending. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Captive Agent: </b>An agent who, by contract, represents only one company and its affiliate. Sometimes called &quot;exclusive or controlled agent&quot;. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Cargo: </b>Goods being transported by rail, plane, truck, ship, or other conveyance, excluding the equipment needed to operate the conveyor. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Cash Surrender Value: </b>The amount (stated in the policy) which is available in cash upon the surrender of a policy for cancellation before or after the policy matures (as in death claim or otherwise). This is one of the three non-forfeiture options. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Cede:</b> To pass on to another insurer (the reinsurer) all or part of the insurance written by an insurer (the ceding insurer) with the object of reducing the possible liability of the latter. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Certificate of Insurance</b>: A document containing information concerning the master policy of a group indicating that the individual is covered. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Civil Commotion: </b>A disturbance among, or a popular uprising of, a large number of people. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Claim:</b> An amount requested of an insurer, by a policyholder or a claimant, for an insured loss. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Claims-Made:</b> A liability insurance policy version covering losses from claims asserted against the insured during the policy period. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Coinsurance Clause:</b> In property insurance, a clause require in the insured to maintain insurance at least equal to stipulated percentage of value in order to collect partial losses in full. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Collision:</b> The impact of a vehicle with another object or vehicle, or the upset of a vehicle. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Collision Coverage: </b>Covers damage to a covered auto caused by collision with another object or vehicle. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Collision Insurance:</b> Coverage for the loss resulting from the striking of another object by a moving vehicle. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Commissions: </b>Payments made by the insurance company to the agent for the sale and servicing of a policy. Commissions are calculated as a specific percentage of the premium paid and the percentage determined in accordance with the contract between the agent and his insurance company. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Common Disaster Clause:</b> This clause defines the method of the payment of the proceeds of the policy by the insurance company if the insured and the named beneficiary die simultaneously in a common disaster. It protects the contingent beneficiary since it would consider the primary beneficiary predeceased the insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Comparative Negligence: </b>Under comparative negligence, the damages collectible in relation to anther person are diminished in proportion to one&#39;s degree of negligence. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Comprehensive Automobile Coverage:</b> &quot;All-Risk&quot; Physical damage protection for automobiles, except for loss by collision or upset (which may be added). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Concealment: </b>In insurance, a failure to disclose a material fact, which may void an insurance policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Condition: </b>Something established or agreed upon to be necessary to make a policy of insurance effective. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Conditional Receipt: </b>A receipt given for the payment of the initial premium (accompanying the application) which makes coverage effective under the contract if the risk is approved as applied for, subject to the other conditions set forth in the receipt. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Consideration: </b>One of the elements of a valid contract. The premium and the statements made by the prospective insured in the application are construed as the insurer&#39;s consideration. The insurance company&#39;s consideration is its promise to pay a valid claim. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Contract Bond: </b>In general terms, a surety bond guaranteeing the performance of a contract, usually associated with construction work, but possible for almost any kind of contract. Sometimes called a performance bond. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Contributory Negligence: </b>A common law defense in which the plaintiff must be entirely free from fault in order to recover from a negligent defendant. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Contributory Plan: </b>A term applied to employees benefit plans (such as group insurance or group annuities) under which both the employees and the employer contributes. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Conversion Privilege:</b> The right granted to the insured to change his coverage from a group policy to an individual policy. If a member of a group resigns therefrom, his is given an opportunity to secure an individual policy within a specified period thereafter regardless of whether or not he is in good health at that time. This term is also applied to the right of an insured to convert from a convertible term policy to a permanent form of insurance. </font> <b><font face="Arial, Helvetica, sans-serif" size="2"> Coverage for Damage to Your Covered Auto (Physical Damage Coverage): </font> </b><font face="Arial, Helvetica, sans-serif" size="2">Insures against damage to an insured auto caused by collision and other than collision losses. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Coverage Territory: </b>Geographic region where coverage is available under the Personal Auto Policy. Includes the United States and its territories and possessions, Canada and Puerto Rico. Coverage is also provided if the auto is damaged while being transported between these ports. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Credit Life Insurance: </b>Life insurance designed to pay the balance of a loan (usually payable in installments) if the insured dies before the loan has been paid in full. Generally, a bank department store, or a finance company handles credit life insurance. Usually this form of insurance is written on a group basis, but it may also be written on an individual basis. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>D</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Death Benefit: </b>The amount that is paid to a beneficiary as the result of the death of an insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Death Claim: </b>Proof of the insured&#39;s death and the beneficiary&#39;s application that are filed with the insurance company in a request for payment under the policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Declarations:</b> Section of the Personal Auto Policy that shows who is insured, what property is covered, when and where coverage is effective, and how much coverage applies. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Deductible:</b> In a policy providing a deductible clause, the amount which must first be subtracted from the total damage incurred before determining the insurance company&#39;s liability. Of several types used, the straight deductible establishes the insurer&#39;s liability above the deductible but not below it; the franchise deductible establishes the insurer&#39;s liability for the entire amount of damage once the deductible amount is exceeded in a loss; and the disappearing deductible establishes the insurer&#39;s liability for an increasing proportion of the loss, as the total damage rises above the deductible, until the deductible finally &quot;disappears&quot;. The insurer is liable for the entire amount. The deductible may be in the form of an amount of dollars, a percent of the loss, a percent of the value of the insured property, or a period of time, as in health insurance. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Depreciation:</b> The reduction in value of tangible property caused by physical deterioration, obsolescence, or wear and tear. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Directors &amp; Officers:</b> Coverage for directors and officers.</font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Direct Writer: </b>A company which sells insurance to the public either through employees licensed as agents or through licensed agents, compensated on a commission basis, who represent only one company; but not through independent agents representing more than one company. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Disability Benefit:</b> A feature added to some life insurance policies which provides for the waiver of premiums upon the furnishing of proof that in insured has become totally and permanently disabled and/or for the payment of monthly income benefits to the insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Dividend:</b> A refund of part of the premium under a participating policy of a share of policyholders surplus funds apportioned for distribution. They are derived from savings in mortality and expenses and interest earned in excess of the assumed rate used in the calculation of the premium in the policy reserves. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Dividend Options:</b> The insured is given the option to apply dividends as follows: 1) He may receive the dividend in cash. 2) Apply the dividend toward the payment of any premium due on the policy. 3) Apply the dividend toward the purchase of paid-up additional insurance. 4) Leave the dividend with the insurance company to accumulate an interest. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Domestic Company:</b> An insurance company incorporated or organized under state law is a domestic insurer in that particular state. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Double Indemnity:</b> A clause providing payment of twice the face amount of the policy if loss of life is due to an accident. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Dwelling: </b>A house in which people live, as distinguished from a store, a factory, or any other commercial type building. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>E</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Effective Date: </b>The day upon which a policy first becomes eligible to pay covered losses. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Endorsement: </b>A document with language attached to and becoming part of a basic policy for the purpose of amplifying or modifying it, either at its inception or during its term. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Endowment Insurance:</b> A policy that (after a specified number of years) pays a stated amount to the insured. If the insured dies during the endowment period, the face amount of the policy is paid to the designated beneficiary. An endowment pays at the earlier of death or a specified period. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Evidence of Insurability: </b>Any statement or proof of a person&#39;s physical condition that may affect acceptance for insurance. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Exceptions:</b> Provisions in a policy that eliminate coverage for specified causes of death and/or disability). Also know as exclusions. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Excess Insurance:</b> An amount of protection that bears all or a portion of a loss after the loss exceeds an agreed amount. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Exclusion</b>: 1) That which is not covered by the insurance as stated in the policy 2) A clause in an insurance policy which specified that which is excluded from the policy&#39;s coverage. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Exclusive Agent: </b>An agent who, by contract, represents only one company and its affiliates. Sometimes called a &quot;captive agent&quot;. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Experience Rating (Group Insurance): </b>The premium is computed on the basis of past losses and expenses incurred by the insurance company in the settlement of claims and other expenses involving a particular group of risk. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Extended Coverage Insurance: </b>Protection against loss or damage caused by windstorm, hail, smoke, explosion, riot, civil commotion, vehicles, and aircraft. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Extended Term Insurance:</b> A non-forfeiture option, under which the face amount of the policy is continued in force for a specified additional period of time after default in the payment of a premium. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>F</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Face Amount:</b> The amount of insurance stated on the face of the policy that will be paid upon the death of the insured (or in some cases at the maturity of the policy). It does not include any amount that has been added through dividend additions or additional insurance payable in the event of accidental death. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Facility of Payment Clause:</b> A provision in a policy which permits the insurance company to pay insurance proceeds to persons other than the insured, the designated beneficiary, or the estate of the insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Fair Plan:</b> A program to provide &quot;Fair Access to Insurance Requirements&quot; for property owners who experience difficulty in buying insurance on property located in blighted or deteriorating urban areas. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Family Income Benefits: </b>Under this form of life insurance, on the death of the insured, a monthly income is paid to the beneficiary (ies) tot he end of the family income period stipulated in the policy in addition to the lump sum payment (face amount). For example, it could run for a period of 10 years starting with the inception date of the policy, or it could run for 15 years, 20 years, or to age 65. Usually m it is a decreasing term insurance provision that is combined with whole life insurance. If the insured survives the family income period, the family incomplete protection ceases. The policy reverts to the face amount (usually, payable in a lump sum upon the death of the insured). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Family Member:</b> A person related to the named insured or his or her spouse by blood, marriage or adoption who lives in the named insured&#39;s household. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Familt Maintenance Policy: </b>This type of policy combines ordinary life insurance and level term insurance. I t affords the payment of a monthly income during a stated period of 10,15,or 20 years or to age 65 as pre-selected by the insured. The monthly income is payable from the date of death to the end of the pre-selected period. The payment of the face amount of the policy is payable at the end of such pre-selected period. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Farm Owners - Ranch Owners (FO-RO): </b>A package policy for farming and ranching risks which can be described as homeowners policy adapted for farm and ranch properties. Basically the policy provided property and liability insurance to which may be added appropriate additional coverage such as animal collision, employers liability, custom farming, etc. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Federal Crime Insurance Program:</b> Administered by the Federal Insurance Administration to provide limited burglary and robbery coverage for property owners who experience difficulty in buying insurance on property located in blighted or deteriorating urban areas. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Fidelity Bond:</b> An insurance policy that reimburses an employer for employee theft, embezzlement, or dishonesty. May be written to cover specific employees or all employees. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Fiduciary:</b> A person who occupies a position of trust, especially one who manages the affairs of another. For example, the guardian of a minor is a fiduciary. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Financial Responsibility Laws: </b>State laws that require owners or operators of autos to provide evidence that they have funds to pay for automobile losses for which they might become liable. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Fire:</b> Combustion manifested in light, flame and heat for useful purposes (friendly fire) or destruction purposes (hostile fire). Insurance covers loss from only the latter. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Floater:</b> A policy that covers property at many locations, even worldwide and in the course of transit. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Flood:</b> Overflow of water from its natural boundaries. More specifically defined by the National Flood Act of 19668 as &quot;a general and temporary condition of partial or complete inundation of normally dry land areas from: 1) The overflow of inland or tidal waters. 2) The unusual and rapid accumulation or runoff of surface waters from any source. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Foreign Company: </b>In insurance, a company doing (authorized) business in one state but incorporated in another. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Form: </b>A document providing the specifics of the insurance issued, either separate unto itself or attached to other descriptive language. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Fortuitous Cause: </b>An accidental and unexpected cause of loss. A happening by chance. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Fraternal Insurance: </b>A cooperative type of insurance provided by a social organization for its members (e.g., life insurance offered by the &quot;Knights of Columbus&quot;). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Free of Particular Average (EPA): </b>A clause which exempts the company insuring cargo from partial losses, usually limited to apply only if the amount be less than an agreed sum, or if some other described condition exists. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>G</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Garage Policy: </b>Protects garage or service station operators from claims alleging bodily injury or property damage caused by the operator&#39;s negligence in business operations and the use of automobiles. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> General Average:</b> In ocean marine insurance, a loss that is common to all interests (i.e., the hull owners, the cargo owners, and receivers of the freight and charges, etc.), that may arise due to a peril to the entire venture, that requires a sacrifice or expenditure for the benefit of all. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Grace Period: </b>A specified period after a premium payment is due during which the protection of the policy continues even thought the payment for the renewal premium has not yet been received. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Group Certificate:</b> Certificate given to employees participating in a group insurance plan which sets for the protection to which they are entitled. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Group Insurance Policy:</b> A policy protecting a group of persons, usually employees of a firm generally called a &quot;master policy&quot;. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>H</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Hazard: </b>A condition that may lead to a PERIL, thus creating a loss (e.g., oily rags leading to a fire). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Hold Harmless Agreement:</b> A contractual arrangement in which one party agrees to assume certain liability which otherwise would be borne by the other party. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Homeowners Policy: </b>A &quot;Package&quot; policy for dwelling and contents risks combining fire and allied line coverage with comprehensive personal liability and theft insurance for homeowners and tenants. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Hull:</b> The ship itself as distinguished from its cargo. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>I</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Implied Warranty: </b>An indirect expression or inference, not in writing, by the policyholder that certain conditions exist or will be met (e.g., that a building is not on fire when insured, or that a vessel is seaworthy). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Improvements and Betterments: </b>Additions made to real estate enhancing its value and amounting to more than mere repairs or replacement of waste. When made by a tenant, such additions are normally included in the tenant&#39;s own property insurance. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Inchmaree: </b>A clause used in ocean marine policies to identify additional named perils beyond the basic marine perils. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Incontestable Clause: </b>A clause that makes the policy indisputable (except for non-payment of premium and the operation of the war clause exclusion) regarding the statements made by the insured in the application after a specified period of time has elapsed (usually one, two, or three years). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Increase in Hazard:</b> The standard fire insurance policy is suspended from liability while the hazard in a risk has been increased beyond what was contemplated at the time the policy was written. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Indemnify:</b> To pay for loss suffered. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Independent Agent: </b>A property-liability insurance producer who sells insurance as an independent contractor while representing one or more insurers of that agent&#39;s choosing on a commission basis, owning the expiration records of customers served. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Indirect Damage:</b> Loss resulting from or as a consequence of, an insured direct loss. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Individual Insurance: </b>Policies that afford protection to the policyholder and/or his family (as distinct from group insurance). Sometimes it is referred to as personal insurance. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Industrial Policy: </b>A Policy with a face amount of $1000 or less for which the premiums are usually payable weekly or monthly and collected in person. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Inherent Explosion: </b>Explosion caused by the normal process of a risk (as opposed to one caused by external causes), e.g., a dust explosion in a grain elevator </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Inherent Vice: </b>The characteristics of any physical property which are expected to cause deterioration or damage to that property without help, e.g., milk sours eventually, and wooden houses depreciate over time. Excluded by most insurance policies. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Injury:</b> An act that damages or destroys a person or property. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Inspection Report: </b>A report that contains general information regarding the health, habits, finances, and reputation of an applicant made by a firm that specializes in rendering this type of service. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Insurable Interest: </b>A potential for financial loss from a certain event that a person must have before acquiring insurance against that event. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Insurance: </b>The transfer of risk from the insured to the insurer. The insurer promises to pay the insured or beneficiaries an amount of money, services, or both for economic losses sustained from an unexpected and accidental event, during a period of time for which the insured makes a premium payment to the insurer. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Insurance Clause: </b>A clause that defines and describes the scope of the coverage afforded and the limits of indemnification. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Insurance Company, Alien:</b> One that was organized under the laws of a country other than the United States. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Insurance Company, Domestic: </b>One conducting business in the state in which it was organized. A company who has its home office in the state in which it is conducting business. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Insurance Company, Foreign: </b>One conduction business in a state other than the state in which it was organized. A company having its home office in a state other than the one(s) in which it is conducting business. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Insurance Services Office (ISO):</b> A voluntary, nonprofit association of property and casualty insurance companies providing a great variety of services on a national basis. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Insured: </b>The person(s) or party(ies) protected by an insurance policy, synonymous with assured. Some property-liability policies distinguished between the named insured another insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Insuring Clause (Agreement): </b>The portion of a policy that describes the risk that the insurer has agreed to assume. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Intermediary: </b>One who arranges reinsurance between companies. A reinsurance broker. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>J</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Jettison:</b> In ocean marine insurance, the voluntary throwing overboard of part of the cargo or gear of the vessel to lighten the load and save the vessel from conditions of stress at sea. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Jewelers Block Insurance: </b>Broad policies insuring jewelers against all loss to their stock in trade. Generally considered too be a type of inland marine insurance. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Joint Life Insurance:</b> Insurance on the lives of two or more persons with the face amount payable in the event of death of either (or any one) of them. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Joint Ownership Coverage:</b> The purpose of this coverage is to provide coverage for individuals, other than husband and wife, residing in the household or nonresident relatives who jointly own a private passenger auto or a pickup or van that has a gross vehicle weight of less than 10,000 lbs. and is not used for the delivery or transportation of goods and materials. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Juvenile Insurance:</b> Life insurance policies written on the lives of children within specified age limits. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>K</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Key Person Insurance: </b>An individual policy designed to reimburse an employer for the loss of a key person&#39;s service due to his or her death. Usually, the employer pays the premium and is the beneficiary. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>L</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Lapse: </b>The termination of a policy for nonpayment of premium; used more commonly in life insurance. If the insurance contract becomes void for other reasons, it is also said to have lapsed. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Larceny: </b>Theft of personal property. Modern Criminal laws include obtaining property under false pretense and embezzlement, which common law did not include in theft. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Law of Large Numbers:</b> A mathematical concept that postulates that the more times an even is repeated (in insurance, the large number of homogeneous exposure units), the more predictable the outcome becomes. In a classic example, the more times on flips a coin, the more likely the results will be 50% heads, 50% tails. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Legal Liability: </b>Liability imposed by laws, as opposed to liability arising from an agreement or contract. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Legal Reserve Life Insurance Company: </b>An insurance company that operates under insurance laws that specify the minimum amount of reserves that he insurance company must maintain on its policies. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Level Premium:</b> A premium that remains unchanged throughout the life of the policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Level Term Insurance:</b> A term Contract whose face amount remains level throughout the life of the contract but whose premium increase according to the age of the insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Libel: </b>To publish defamatory statement about another. The general distinction between libel and slander is that the first must be in writing or similar permanent form, while the later is oral. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Liability Coverage:</b> Covers damage for Bodily Injury (BI) or Property Damage (PD) for which an insured becomes legally responsible because of an auto accident. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Life Expectancy: </b>The average number of anticipated years of life remaining for individuals who are the same age in accordance with the mortality table indicated in the policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Life Insurance:</b> Insurance upon the lives of human beings that create an immediate and guaranteed estate at the death of an insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Limited Pay Life Insurance: </b>A plan of permanent life insurance under which the premiums are payable for a specified number of years (5, 10 years or to age 65). After which the policy can continue to remain in effect for life without it being necessary for the insured to make any additional payments. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Limit or Limit of Liability: </b>According to the terms of a given policy, the most an insurer will pay for any one loss. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Lloyd&#39;s of London:</b> A collection of individuals who assume policy obligations as the individual obligation of each. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Loading:</b> An amount that is added to net premiums in order to cover the insurance companies operating expenses and possible contingencies. The cost of acquiring new business, collecting expenses, and general management expenses constitute&#39; loading. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Loan Value: </b>The amount specified in a policy that the insurance company will lend to an insured at the rate of interest which the insurance company may charge for such loans (as indicated in the policy). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Loss: </b>1) The amount the insurer is required to pay because of a happening against which it has insured. 2) A happening that causes the company to pay (e.g., any reduction in quantity, quality, or values of insured property resulting from an insured peril. 3) The over-all financial result of some operation, as opposed to &quot;profit.&quot; 4) The amount suffered by a person or property, with or without insurance. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Loss of Use Insurance:</b> Insurance that compensates the policyholder for inability to use property destroyed or damaged by an insured peril. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Loss Payee: </b>Party besides the insured (such as a lending institution) that has an insurable interest in the vehicle insured. Also called a Lienholder. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>M</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Malpractice:</b> Improper actions or failure to exercise proper skill by a professional or others involved with the care of the human body; such as a physician, dentist, blood bank, etc. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Marine Insurance:</b> One of major divisions of insurance (life, health, property, marine, casualty, surety), primary written for property in transit. If my sea, &quot;ocean&quot; marine (or &quot;wet&quot; marine); otherwise, &quot;inland&quot; marine. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Material Fact:</b> Information having objective reality that influences an insurer in granting or not granting insurance coverage. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Maturity: </b>The date on which a policy becomes payable due to the death of the insured, or as a result of an insurer&#39;s living to the end of an endowment period. </font> <b><font face="Arial, Helvetica, sans-serif" size="2"> Medical Payment Coverage (Med): </font></b> <font face="Arial, Helvetica, sans-serif" size="2">Pays medical expenses incurred in an auto accident for the insured and passengers in the insured&#39;s car. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Mercantile Risk: </b>A property location used for the selling of merchandise, as distinguished from a habitational risk or a manufacturing risk in which goods are processed. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Merit Rating:</b> A system of rating in which the experience of the individual risk is a factor in determining the rate. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Minimum Premium: </b>The lowest flat or eared policy charge for which a policy will be issued or for which coverage will be provided. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Misrepresentation:</b> Misleading the company as to material facts affecting a policy or the settlement of a loss, either by directly or indirectly lying. Misrepresentation as to material facts voids policies. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Mobile Home Insurance: </b>A special policy has been designed to meet the needs of mobile home owners or occupants, covering physical damage to the home, contents and personal liability while the home used as a permanent residence. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Moral Hazard:</b> A condition or characteristic by which an insured intends to profit from an insured loss. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Morale Hazard: </b>The condition that exists when an insured becomes lax in matters of safety and fire prevention because insurance is in place to pay for a loss which may occur. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Mortality Table: </b>A statistical table that indicated the probability of death and survival at each age. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Multi-Peril Insurance: </b>Synonymous with multi-line insurance, a policy including both property and casualty coverage (e.g., a homeowners policy). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Mutual Insurance:</b> Protection written by an incorporated insurer having no capital stock and directed by policyholders that are its owners. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Mutual Life Insurance Company:</b> A life insurance company owned and controlled by its policyholders. Mutual Life Insurance Companies issue participating policies. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Mysterious Disappearance: </b>The vanishing of insured property in an unexpected manner. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>N</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Named Insured:</b> The person designated in the policy as the insured, as opposed to someone who may have an interest in a policy by not be shown by name. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Named Peril Policy: </b>One that specifies the exact cases of loss for which the insurer will pay, as contrasted with a policy that insures against &quot;all risks&quot; (and then lists only exclusions, modifications, and conditions). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> National Flood Insurance Act of 1968: </b>An act establishing a basis for flood insurance as a joint venture between the private insurance industry and the Federal Government. The Federal Government has since taken over the entire program. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Negligence:</b> The Failure to exercise the care that an ordinary prudent person would exercise: either doing that which a prudent person would not do, or failing to do that which a prudent person would do. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Net Amount at Risk:</b> The difference between the face amount of a policy and the reserve. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Net Premium:</b> 1) The gross (paid) premium less any return premium or dividend. 2) The premium less the commission. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> No-Fault Insurance: </b>Form of automobile insurance where each insurance company pays the damage of its own insureds, regardless of who was at fault for the accident. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Noncontributory Plan: </b>A group employee benefit under which the employer pays for the full cost of the benefits for his employees. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Non-forfeiture Values (Options):</b> Benefits required by law to be made available to the insured (or his beneficiary) in the event that he discontinues his premium payments. These provide that he does not forfeit or lose all that he has invested in the policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Non-Medical Life Insurance: </b>Insurance that is issued without requiring the applicant to submit to a medical examination. The insurance company relies on the applicant&#39;s answer to the questions rewarding his physical condition, personal references, and inspection reports. However, the insurance company retains the right to require a medical examination, if an investigation indicates a need for one. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Nonowned Vehicle: </b>An auto that is not furnished or available for the regular use of the insured or any family member. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Non-Participating Life Insurance: </b>Insurance that does not pay dividends to the policyholders. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Nonrenewal: </b>Decision made by the insurance company not to extend coverage for another policy period after the current policy period expires. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>O</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Obligee: </b>The party in whose favor a bond runs, i.e., the party protected from loss under the bond. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Obligor: </b>One bound by the obligation covered by a bond. Also called the &quot;principal&quot;. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Occupancy:</b> 1) The use to which a building is put. 2)The type of contents a building contains. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Occurrence:</b> In insurance, the term may be defined as continual, gradual, or repeated exposure to an adverse condition which is neither intended nor expected to result in injury or damage, as contrasted with an accident, which is a sudden happening. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Omnibus Clause: </b>A part of an automobile or yacht liability policy which extends coverage to persons and organizations other than the named insured, such as members of the insured&#39;s family, servants and others using the automobile with the owners permission. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Optional Benefit:</b> An additional benefit that may be included in a policy at the applicant&#39;s request. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Ordinary Life Insurance: </b>Insurance policies of $1,000 or multiples thereof that provide coverage for the entire life of the policyholder and for which the premiums are payable until death. It is also referred to as whole life insurance or straight life insurance, and is different from term insurance in that it includes a cash value buildup. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Other Insurance: </b>A Personal Auto Policy provision that describes how much the insurer will pay when more than one insurance policy or coverage applies to the same loss. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Other Than Collision Coverage (OTC):</b> Covers damage to a covered auto caused by something other than collision coverage, such as hail, glass breakage and theft. Also called Comprehensive Coverage. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Over Insurance: </b>Coverage in amounts greater than the value of the property insured or the amount of loss sustainable by the insured (e.g., several policies of hospitalization insurance for a total amount in excess of daily room charges). </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>P</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Package Policy:</b> A combination of property-liability coverages of two or more separate policies in on contract with one premium. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Paid-Up Additions:</b> An additional amount of insurance purchased through dividends (single premium insurance) which increase the amount of protection afforded. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Paid-Up Insurance:</b> Life Insurance on which future premium payments are not required. Frequently, the term is used to identify a 20-payment life insurance policy on which 20 annual premiums have been paid. Fractional paid-up insurance is the term applied to the policy that is issued under the non-forfeiture option. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Pair-and-Set Clause:</b> An Inland marine policy provision which requires the insurer, at the insured&#39;s option, to restore or pay for the entire pair or set of jewelry or fine arts when only part has been lost, destroyed, or damaged. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Partial Loss:</b> Is one involving less than all of the values insured or calling on the policy to pay less than its maximum amounts. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Participating Insurance:</b> Insurance that entitles the policyholder to share in the divisible surplus of the insurance company through dividends. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Particular Average:</b> In ocean marine insurance, a loss (partial or total) which falls on one or more property(ies) or interest(s) being shipped, as opposed to aGeneral Average. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Payor Clause:</b> A clause that provides for the waiver of premiums on a child&#39;s policy following the death or the total disability of the adult applicant for the child&#39;s policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Penalty of the Bond: </b>In a surety bond, the amount guaranteed or the limit of the company&#39;s liability. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Peril:</b> The cause of loss (e.g., fire, explosion, accident). </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Perils of the Sea: </b>Causes of loss unique to the operation of ships and their cargoes, i.e., sinking, stranding, heavy weather, etc., but not fire lighting, or theft. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Personal Articles Floater: </b>Worldwide coverage on an &quot;all-risk&quot; basis for scheduled, valuable personal property. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Personal Auto Policy:</b> Coverage designed to replace both the family auto policy and the special package auto policy as the &quot;standard&quot; form for insuring private passenger autos and certain types of non-business trucks. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Personal Effects Floater: </b>An inland marine policy that insures articles (usually accompanying travelers) against &quot;all-risk&quot; while away from home. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Personal Injury Protection (PIP): </b>Also known as no-fault insurance, providing insurance for medical costs, loss of earning, additional living expenses, and funeral costs for occupants of the insured automobile and pedestrians other than those insured under other policies.</font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Physical Hazard:</b> Danger of loss or liability arising from the condition, occupancy, or use of property, as opposed to such danger arising from the character of the policy holder. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Pilferage: </b>Theft in small quantities, e.g., not limited to the taking of a whole package or all of the property insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Piracy:</b> Robbery on the high seas, typically the seizure of a vessel and cargo. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Policy: </b>The printed document issued by the insurance company to the insured that is the insurance contract. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Policy Fee:</b> A small fee charged by some insurance companies for the first year (or portion thereof) in addition to the regular premium. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Policy Form: </b>Document used to assemble an insurance policy that describes the policy coverages, exclusions and conditions. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Policy Holder: </b>The party to whom a policy is issued, and who pays a premium to an insurer in consideration of the patter&#39;s promise to provide insurance protection. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Policy Loan:</b> A loan made by an insurance company to an insured under his policy (not in excess of its cash value). Policy loans may be assessed a fixed interest rate or an adjustable rate. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Policy Period:</b> Period of time listed in the Declaration when coverage under the policy is in effect. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Policy Term: </b>The period of time for which the policy will normally remain in existence. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Premises</b>: The building (or section of a building) insured or containing the insured property. Depending on policy conditions, it may also include an adjacent area. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Premium</b>: The amount of money an insurance company charges to provide coverage. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Primary Insurance: </b>When two or more coverages or policies apply to the same loss, the one that pays first, up to its limit of liability or the amount of the loss, whichever is less. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Principal</b>: in suretyship, the principle is the one whose honesty, fidelity, or ability to perform is guaranteed. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Private Passenger Auto: </b>A four-wheel motor vehicle, other than a truck, owned or leased for at least six continuous months. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Proceeds</b>: The net amount of money that is payable by the insurance company at the death of an insured or when the policy matures. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Product Liability</b>: The liability that a merchant or a manufacturer may incur as the result of some defect in the product sold or manufactured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Profits Insurance:</b> Coverage for the loss of profit that the policyholder could have earned that the merchandise destroyed in a fire (or by a covered peril) been sold otherwise. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Proof of Loss:</b> A written statement of a claim giving the pertinent facts and data that may be in the form of an affidavit. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Property Damage (PD): </b>Physical injury to, destruction of or loss of use of tangible property. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Pro Rata Cancellation: </b>Termination of a policy by the insurer, for which the return premium due the policyholder is the full proportionate part for the un-expired term. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Proximate Cause: </b>That which brings about a result without the intervention of any other force. Important in insurance since it establishes which policy(ies) will pay for a loss; e.g., the one insuring the perils which was the proximate cause of the loss. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Public Adjuster:</b> One who, for a fee, represents policyholders in the adjustment of their losses with insurance companies. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Punitive Damages: </b>Damages awarded to a plaintiff that are meant to punish the defendant for anti-social actions rather than reimburse the plaintiff for loss. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>Q</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Quota Share Reinsurance:</b> A form of pro rata reinsurance (proportional) in which the reinsurer assumes an agreed percentage of each insurance policy being insured and shares all premiums and losses accordingly with the reinsured. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>R</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Rate</b>: The price for a unit of insurance; all units in a given policy, multiplied by the rate per unit, produce the premium. In fire insurance, the price per $100 of insurance for one year. The basis for pricing other types of insurance varies greatly i.e., payroll is used in workers compensation insurance, area of retail floor space or sales volume is used in certain types of general liability insurance, etc. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Rating</b>: A method under which an insurance company can issue a policy for a subsequent risk by increasing the premium based on the increased risk involved. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Rating Factor: </b>Characteristics that differ depending on the individual risk that is being rated, such as the type of vehicle to be insured and the age and sex of the insured driver. For most personal auto coverages, they are used to modify the finished rate. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Rebating</b>: Paying, offering, or giving anything of value (or any valuable consideration not specified in the policy) to any person as an inducement to purchase a policy of insurance. Rebating is illegal and both parties are guilty of it when it is done knowingly. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Reduced Paid-Up Insurance:</b> A non-forfeiture value (option) in a policy that provides for the continuation of the insurance but at a reduced amount (sometimes called Fractional Paid-Up Insurance).</font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Reinstatement</b>: The resumption of coverage under a policy that lapsed. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Reinsurance:</b> 1) The transaction whereby an insurance company (the reinsurer), for a consideration, agrees to indemnify another insurance company known as the ceding company (the reinsured) against all or part of a loss which the latter may sustain under a policy of policies it has issued. 2) When referred to as &quot;a reinsurance,&quot; the term means the relationship between reinsured and reinsurer. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Removal</b>: The taking of property to some place other than at which it was insured. The standard fire insurance policy used in most states insures against damage done in removing the insured property from the path of the fire. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Renewable Tern Insurance:</b> Insurance that may be renewed at the end of the term, for another term, without evidence of insurability. The rates increase at the end of each term and are based on the attained age of the insured at the time. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Renewal</b>: Continuance of coverage under a policy beyond the initial period. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Rental Value Insurance: </b>Insurance which reimburses the owner-occupant of a building for the cost of renting some other place if the building is rendered unusable by some peril insured against.</font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Rent Insurance:</b> Insurance that reimburses a building owner against loss of rental income if the building is not usable by a tenant because of some peril insured against. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Replacement Cost Insurance: </b>Protection that pays the cost to restore or replace damaged or destroyed property without deduction for depreciation. Automatically included in homeowner&#39;s forms. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Replacement Vehicle: </b>A vehicle the insured acquires during the policy period that replaces one shown in the Declarations. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Representation:</b> Information communicated by the prospective insured to an insurer that will influence the latter&#39;s underwriting decision. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Reserve:</b> A sum (required by law) set aside by an insurance company to assure the payment of future claims. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Retention Clause:</b> A clause in a policy of reinsurance by which the ceding company agrees to retain for it own accounts a certain part of the line. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Rider: </b>Another word for Endorsement. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Risk:</b> 1) Defined variously as uncertainty of loss, chance of loss, or the variance of actual from expected results. However defined, its existence is the reason people by insurance. 2) The subject matter of an insurance contract, e.g., the building, cargo, or liability exposure insured. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Robbery: </b>the taking of property by violence or threat of violence. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Running Down Clause:</b> The clause in an ocean marine hull policy which covers damage done to another ship by collision, and other property damage caused by collision. </font> <font color="#660000" face="Copperplate Gothic Light" size="5"><b>S</b></font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Safe Burglary Insurance:</b> Protection against loss of property caused by forcible entry into a safe or vault. Damage to safes, vaults, and other property on the premises resulting from burglary is also covered unless caused by fire. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Salvage</b>: Property in a loss saved from further loss. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Schedule</b>: A list of insured properties, and the amount of insurance on each, which is attached to a &quot;schedule&quot; policy, as distinguished from a &quot;blanket&quot; policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Schedule Bond:</b> A fidelity bond covering a number of named individuals or positions (irrespective of who occupies them), as contrasted with a blanket bond, which covers all. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Schedule Policy:</b> A listing of two or more items of property in a policy, with specified amounts of insurance applying to each item. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Self Insurance:</b> The retention of sufficient exposure units by an entity to permit the operation of the Law of Large Numbers. Self insurance is a term often mistakenly used to describe the situation when an entity decided to retain its own risks. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Settlement Options:</b> Methods (other than immediate payment in lump sum) by which an insured (or beneficiary) may choose to have the proceeds of an insurance policy paid. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Short Rate Cancellation:</b> Termination of a policy by the policyholder before its stated expiration. The insurer refunds the policyholder a return premium in less amount than the pro rata part that is still unearned to compensate the insurer for expenses incurred to that point, (since the termination is at the request of the policyholder).</font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Single Limit of Liability: </b>Policy limit that applies to all bodily injury and property damage arising from a single accident. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Single Provisions:</b> Certain provisions that must be included in a Life Insurance Policy. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Social Insurance:</b> Insurance provided by government. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Split Limit of Liability:</b> Policy that has separate limits per person and per accident for Bodily Injury and a per accident limit for property damage. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Stated Amount Insurance:</b> Insurance written to cover an item of property for a specific amount of insurance. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b>Stock Life Insurance Company: </b>A Life Insurance Company owned and controlled by its stockholders who share in its divisible surplus. Generally, Stock Insurance Companies issue Non-Participating Life Insurance. However, some of them also issue Participating Life Insurance. </font> <font face="Arial, Helvetica, sans-serif" size="2"><b> Subrogation</b>: In insurance, the substitution of one party (insurer) for another party (insured) to pursue any rights the insured may have against a third party liable for a loss paid by the insurer. </font> <font face=