| |
| Bailee ... |
| A person or organization that has the property of someone else in their possession temporarily. |
| • • • • • |
| Basic Form ... |
| A package insurance policy providing coverage against specified perils. |
| • • • • • |
| Beneficiary ... |
| A person named in an insurance policy to receive proceeds or benefits therefrom. |
| • • • • • |
| Binder ... |
| A short term oral or written declaration that provides immediate insurance protection for a specified length of time, usually with the understanding that the appropriate policy will be written before the binder expires. |
| • • • • • |
| Blanket Coverage ... |
| Insurance that covers more than one property item at a single location, or one or more property items at multiple locations. |
| • • • • • |
| Bodily Injury ... |
| Injury, sickness, disease and death as it pertains to a specific loss. (see also, Physical Injury.) |
| • • • • • |
| Boiler and Machinery Coverage Form ... |
| Insurance that covers the Insured for losses arising out of the use of steam boilers and/or other machinery. This coverage may be included in a Commercial Policy. |
| • • • • • |
| Broad Form ... |
| A package policy providing coverage for the same perils covered in the Basic Form, plus one or more specifically listed perils. |
| • • • • • |
| Broker ... |
| Person who represents the customer, instead of the company, in an insurance transaction. |
| • • • • • |
| Building and Personal Property Coverage Form ... |
| Commercial property coverage for buildings and personal property at the business location. |
| • • • • • |
| Burglary ... |
| The act of breaking into a structure with intent to steal property that belongs to someone else. |
| • • • • • |
| Business Auto Coverage Form ... |
| Covers business owned, non-owned and hired automobiles against physical damage and liability. |
| • • • • • |
| Business Auto Physical Damage Coverage Form ... |
| Coverage for business owned or hired automobiles for physical damage only. |
| • • • • • |
| Business Income Coverage Forms ... |
| Coverage that pays for loss of income arising out of the need to temporarily suspend business in order to make reparations from direct physical loss of a covered peril. |
| • • • • • |
| Business Liability ... |
| Liability that arises in the course of conducting business. |
| • • • • • |
| Business Owners Policy ... |
| A policy designed to provide property and liability coverage for small business. |
| • • • • • |
| Business Pursuits Endorsement ... |
| Endorsement to a Homeowner policy that provides Liability coverage for a business conducted away from the dwelling location. |
| • • • • • |
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