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Fore or forward: at or toward the front of a ship or further ahead of a location (opposite of "aft") [1] Preposition form is "before", e.g. "the mainmast is before the mizzenmast". Inboard: attached inside the ship. [14] Keel: the bottom structure of a ship's hull. [15] Leeward: side or direction away from the wind (opposite of "windward"). [16]
The sides of a ship. To describe a ship as "on her beam ends" may mean the vessel is literally on her side and possibly about to capsize; more often, the phrase means the vessel is listing 45 degrees or more. beam reach Sailing with the wind coming across the vessel's beam. This is normally the fastest point of sail for a fore-and-aft-rigged ...
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 ...
Although the definition is not consistent across the insurance industry. [1] It is generally defined as the value of the largest loss that could result from a disaster, assuming the normal functioning of passive protective features (e.g. firewalls , nonflammable materials, flood defences etc.) and proper functioning of most (perhaps not all ...
After builder risk coverage expires, due to sale or occupancy, the new owner typically obtains permanent property insurance on the building such as a home owner's policy or a commercial property policy. Insurance costs generally run between one and four percent of the construction cost, depending upon the type of insurance purchased and ...
Homeowner's policy is a multiple-line insurance policy, meaning that it includes both property insurance and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks. This means that it covers damage to one's property and liability for any injuries and property damage caused by the owner or members of ...
Ken H. Johnson, a real estate economist at Florida Atlantic University and a former real estate broker, says the new rules just add another layer of complexity to an already-confusing process.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.