What is the Definition of Commercial Multiple Peril Policy?
Package policy that includes property, boiler and machinery, crime and general liability coverages.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Insurance?
What is the Definition of Commercial Multiple Peril Policy?
Check out other definition of insurance terms below:
What is the Meaning of CREDIT ENHANCEMENT In Insurance Terms?
A technique to lower the interest payments on a bond by raising the issue’s credit rating, often through insurance in the form of a financial guarantee or with standby letters of credit issued by a bank.
What is the Meaning of CREDIT INSURANCE In Insurance Terms?
Commercial coverage against losses resulting from the failure of business debtors to pay their obligation to the insured, usually due to insolvency. The coverage is geared to manufacturers, wholesalers and service providers who may be dependent on a few accounts and therefore could lose significant income in the event of an insolvency.
What is the Meaning of CREDIT LIFE INSURANCE In Insurance Terms?
Life insurance coverage on a borrower designed to repay the balance of a loan in the event the borrower dies before the loan is repaid. It may also include disablement and can be offered as an option in connection with credit cards and auto loans.
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