Learn about ‘Peril’ in General Insurance terms, a potential cause of loss, and how it impacts your insurance policies. Essential knowledge for insurance education and risk assessment.
Personal Injury Protection (PIP) in vehicle insurance offers no-fault benefits in certain states, covering loss of income, medical costs, and accidental death. Learn about the essentials of this crucial insurance term.
Explore the concept of pilferage in general insurance terms, particularly in marine insurance forms. Learn what pilferage means and how it applies to theft of items of little worth.
Learn about 'Policy Anniversary' in general insurance terms. Discover its significance and where to find this crucial date in your insurance policy documents.
Understand the concept of Policy Year Experience, a method of assessing premiums earned and losses experienced during a 12-month policy term. Essential for anyone interested in general insurance terms.
Understand the mechanics of a Postdated Check Plan in life insurance, where premiums are paid via postdated checks. Explore how these plans work and their benefits.
Explore the concept of postmortem dividend in life insurance, a dividend paid out to beneficiaries after the insured person’s death. Learn its significance and implications in life insurance policies.
Learn about power interruption insurance, a critical policy that protects property owners against losses caused by power failures due to specified hazards.
Explore the essential aspects of power plant insurance, a specialized form of property insurance that protects power plants against various hazards specified in the contract.
Learn about the term 'Premises' in general insurance, which refers to the physical location covered by a policy. Understand what constitutes premises in property insurance for better coverage insights.
Learn about the term 'Primary Insurer' in reinsurance, also known as the ceding company. Understand their role in transferring risk to reinsurers.
Learn what a probate bond (surety) is and its role in protecting assets during estate administration, as sometimes mandated by probate court.
Learn about the term 'Producer' in general insurance terms, which refers to a person who sells insurance, such as an agent.
Understanding Product Recall Insurance, a type of liability insurance that covers the costs involved in recalling defective or possibly defective products made by the insured.
Learn about the Prohibited List, also known as the undesirable list, which includes risks that insurers will not cover. Essential for understanding exclusions in general insurance.
Learn about prospective rating in general insurance, a method used to calculate future premiums based on past loss experiences.
Understand Public Law 15, a crucial 1945 Congressional Act that exempts insurance from federal anti-trust laws provided state regulation. Learn its impact on the insurance industry.
Learn about the legal concept of precedent, its role in common law, and how past cases influence current legal proceedings.
Learn about partnership insurance, a crucial life and health insurance product for businesses. Discover how cross purchase and entity plans help partnerships continue operations after the death or dismemberment of a partner.
Explore the payor benefit provision in juvenile policies for liability insurance, which ensures premium waivers if the responsible person becomes disabled or passes away.
Learn about personal assets in general insurance, including the types of items and cash that belong to the insured such as cars, real estate, and jewelry.
Learn about personal property in property insurance, including coverage under homeowners insurance and commercial forms. Find out what items are protected.
Explore the concept of Personalty, the items of property that can be moved as opposed to real property which remains stationary. Discover its significance in legal terms.
Learn about physical hazards in general insurance, which are caused by the structural or operational features of the risk. Find out how these hazards impact insurance policies.
