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In insurance policies, an additional insured is a person or organization who enjoys the benefits of being insured under an insurance policy, in addition to whoever originally purchased the insurance policy. [1] [2] [3] The term generally applies within liability insurance and property insurance, but is an element of other policies as well. Most ...
A policyholder (or policy holder) is the person who owns the insurance policy. Policyholders affect how much the car insurance costs and, in most cases, the policyholder is the only person who can ...
Reciprocal exchanges are more commonly seen in personal lines than commercial lines, in part because commercial lines insurers can be organized via other means not available in personal lines. In 1981, Congress authorized the creation of risk retention groups (RRGs) to provide certain forms of commercial liability insurance.
This is an accepted version of this page This is the latest accepted revision, reviewed on 11 December 2024. Equitable transfer of the risk of a loss, from one entity to another in exchange for payment "Insure" redirects here. Not to be confused with Ensure. For other uses, see Insurance (disambiguation). An advertisement for a fire insurance company Norwich Union, showing the amount of assets ...
Adding other drivers to a car insurance policy. In most cases, members of your household who have driver’s licenses will be named on your policy. Your insurer expects that anyone who lives in ...
Other insurers use the term "jacket" in a manner closer to its ordinary meaning: a binder, envelope, or presentation folder with pockets in which the policy may be delivered, or a cover sheet to which the policy forms are stapled or which is stapled on top of the policy. The standard boilerplate provisions are then printed on the jacket itself.
Your car insurance typically covers family members and friends who infrequently borrow your car, but understanding the coverage limits helps protect you from unexpected costs.
The master policy holder of a group life insurance plan in the case of an "Employer Employee Group" is basically the Employer and for other groups would be the entity that has an insurable interest in the lives of its members. A bank it could be said has an insurable interest in the lives of its members who hold a deposit or have taken a loan.