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| In insurance, a tail refers to claims and losses that
have not yet been reported or discovered. |
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| For claims-made policies, tail coverage is purchased
to protect against losses or claims which have not yet
been discovered or reported. In this case, a retroactive
date is purchased. For occurrence policies, this is
unneccesary as claims are handled according to when
they happened instead of when they were reported or
discovered. |
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| A life insurance policy purchased to cover a specific
time period as opposed to the end of your life. Term
policies may be written to expire at the end of a time
period such as one, five or ten years or at a certain
age of the insured. |
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| Protects against damage caused by acts of terrorism. |
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| Time element insurance provides insurance for a covered
incident resulting in loss of use of property for a
period of time. The loss is consicered to be time lost,
not actual property damage. Examples of time element
coverage are Business Interruption, Extra Expense, Tuition
Fees, Rents and Rental Value, Additional Living Expenses,
and Leasehold Interest coverage. |
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| A tort is an unintentional violation of another person's
rights, usually due to negligence. It is different than
a crime, which generally is an intentional violation
of another's rights. A tort is subject to civil action
and subsequent judgement for damages payable to the
wronged party, whereas a crime is subject to criminal
action and subsequent penalty. |
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| Coverage of the insured's property while in transit
over land from one location to another. Property insurance
policies typically provide coverage only at locations
identified in the policy. |
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| Truckers
Liability Coverage |
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| Auto liability coverage for owners and operators of
businesses which transport the goods of others by land
for a fee. This coverage is regulated by the Department
of Transportation. |
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