What is the Definition of Difference In Conditions?

What is the Definition of Difference In Conditions?

Policy designed to fill in gaps in a business’s commercial property insurance coverage. There is no standard policy. Policies are specifically tailored to the policyholder’s needs.

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 Difference In Conditions?

What is the Definition of Difference In Conditions?

Check out other definition of insurance terms below:

What is the Meaning of ADJUSTABLE LIFE INSURANCE In Insurance Terms?

A form of life insurance that allows policy owners to vary the type of coverage provided by their policies as their insurance needs change.

What is the Meaning of ADJUSTER In Insurance Terms?

An individual employed by a property/casualty insurer to evaluate losses and settle policyholder claims. These adjusters differ from public adjusters, who negotiate with insurers on behalf of policyholders, and receive a portion of a claims settlement. Independent adjusters are independent contractors who adjust claims for different insurance companies.

What is the Meaning of ADMITTED ASSETS In Insurance Terms?

Assets recognized and accepted by state insurance laws in determining the solvency of insurers and reinsurers. To make it easier to assess an insurance company’s financial position, state statutory accounting rules do not permit certain assets to be included on the balance sheet. Only assets that can be easily sold in the event of liquidation or borrowed against, and receivables for which payment can be reasonably anticipated, are included in admitted assets. (See Assets)

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