WebConditions - A section in an insurance contract that lists the duties and responsibilities of both the insured and insurer. A condition (1) invests or divests the rights and duties of the … Web13 Jul 2024 · Marine insurance refers to a contract of indemnity. It is an assurance that the goods dispatched from the country of origin to the land of destination are insured. Marine insurance covers the loss/damage of ships, cargo, terminals, and includes any other means of transport by which goods are transferred, acquired, or held between the points of ...
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WebAn underwriter refers to an individual or an organization that assesses risk and provides insurance, usually through an insurance policy. The underwriter is responsible for determining the premium, the policy's conditions, and the coverage terms. Web17 Feb 2024 · Term insurance is a life insurance product, which offers financial coverage to the policyholder for a specific time period. In case of death of the insured individual during … thirlestane castle opening times
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WebDefinitions provided by Insurance Bureau of Canada are indicated with an asterisk ("*"). The language of insurance can be quite complex and confusing. Below are some commonly used insurance terms and their meanings. Insurance professionals with whom you may come into contact should be prepared to explain these terms. If you don't understand, ask! WebThe actual loss sustained is a term used in the insurance industry to measure the true impact of a covered incident or event. It is the amount of the loss that is considered the actual loss, regardless of the amount paid out under the terms of an insurance policy. WebTrace and access. If you spring a leak at your property, trace and access does exactly what it says on the tin – your insurance policy will cover the costs of getting a professional to come out to the property, trace and then access the leak so the issue can be diagnosed and fixed. Endsleigh’s policies will provide up to £7,500 cover for ... thirlestane caravan park