What is the Definition of Vandalism?

What is the Definition of Vandalism?

The malicious and often random destruction or spoilage of another person’s property.

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 Annuity?

What is the Definition of Vandalism?

You can find random definition and meaning of insurance terms below:

What is the meaning of Incurred Claims

paid claims plus amounts held in reserve for those that have been incurred but not yet paid.

What is the meaning of Incurred Losses

sustained losses, paid or not, during a specified time period. Incurred losses are typically found by combining losses paid during the period plus unpaid losses sustained during the time period minus outstanding losses at the beginning of the period incurred in the previous period.

What is the meaning of Indemnity, Principle of

a general legal principle related to insurance that holds that the individual recovering under an insurance policy should be restored to the approximate financial position he or she was in prior to the loss. Legal principle limiting compensation for damages be equivalent to the losses incurred.

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