Builders Risk
A type of insurance called builder’s risk insurance is used to safeguard buildings and structures under construction, renovation, or remodeling.
Insurance Glossary
Glossary/Encyclopedia of insurance terms. In addition to the brief description of insurance terms, we have also provided detailed explanation of each term. By selecting ‘More Details’ in each term, you can view the detailed explanation of the term with examples.
Business Auto Form (USA)
The Business Auto Form is a standardized insurance form used in the United States to provide commercial auto insurance coverage.
Business Interruption Insurance
Business interruption insurance, also known as business income insurance, is a type of insurance that protects businesses from financial losses caused by a disruption to their operations.
Business Owner’s Policy (BOP)
A type of insurance policy that combines property, liability, and business interruption coverage into one package, designed specifically for small and medium-sized businesses.
Business Personal Property Insurance
Business personal property insurance, also known as contents coverage or business contents insurance, is a type of insurance that protects a business’s personal property from damage or loss.
Cancellation
In the insurance industry, cancellation refers to the termination of an insurance policy before its expiration date.
Cancer Insurance
Cancer insurance is a type of supplemental health insurance that provides a lump-sum cash benefit upon the diagnosis of cancer.
Carrier’s Legal Liability Insurance
Carrier’s legal liability insurance protects carriers from financial loss if they are responsible for damage to transported goods.
Cash Loss Settlement
In motor insurance, a cash loss settlement occurs when the insurance company pays the policyholder a cash amount to settle a claim instead of directly paying for repairs to the damaged vehicle.
Cash Value
Cash value is a key feature of permanent life insurance policies, such as whole life insurance and universal life insurance.
Casualty in P&C Insurance
In property and casualty (P&C) insurance, the term “casualty” refers to the liability portion of the coverage.
Catasrophic Medical Insurance
Catastrophic medical insurance is a type of health insurance that provides coverage for very large and unexpected medical expenses, typically those associated with severe illnesses or injuries that require extensive treatment and long-term care.