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Typically, a larger and more powerful business will require that smaller entities (desiring to do business) have the larger business named as an additional insured. For example, a landlord in a commercial building will often require that a tenant have the landlord named as an additional insured on the tenant's insurance policies. [5]
Additional insureds usually reflect a business relationship between the policyholder and additional covered party. These types of arrangements most commonly appear on liability and commercial auto ...
The cost of homeowner's insurance often depends on what it would cost to replace the house and which additional endorsements or riders are attached to the policy. The insurance policy is a legal contract between the insurance carrier (insurance company) and the named insured(s). It is a contract of indemnity and will put the insured back to the ...
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
Additional living expenses: Homeowners insurance generally covers additional living expenses you incur while repairs are being done up to a certain period of time or coverage limit. That means ...
This article examines emerging areas of certainty and uncertainty in AI coverage in the wake of 'Burlington' (arguably the most impactful recent decision in the world of additional insured ...
A large property owner that always has many construction projects in progress at any particular moment—like a real estate investment trust, an urban school district, or a state university system—may attempt to realize additional savings by obtaining a single OCIP to cover multiple projects.
Additional factors that influence your premium include your claims history, how much coverage you purchase and your deductible level. Frequently asked questions. Yes. HO-4 insurance is the same ...