Insurance Theme

Insurance Theme 8 - General


By: Dr. Nabil Chaiban


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W A R R I S K C L A U S E
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R A I A
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M L A B A N D O N M E N T C
       
E V P T
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N A P A R T I A L L O S S
       
T G O F
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N C E V G
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A O V T O N T I N E O
         
M N A M D
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E T L V A L U E D C O V E R A G E
       
D R U N
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P A P E R S O N A L P R O P E R T Y
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E C S M
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R T P A R A M E T R I C I N S U R A N C E A
       
I O N R
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L R P L U V I A L F L O O D I N G K
       
S S B E
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C F T E R R O R I S M E N D O R S E M E N T T
       
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V O T A
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E A O P E N P E R I L S
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R E T A I L I N S U R A N C E R U
       
A E M E
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G R P R O X I M A T E C A U S E C
     
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T A
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P O R T R I S K U
 
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M A R G I N C L A U S E

Across

  1. An exclusionary clause eliminating coverage for losses arising out of war or warlike actions.
  2. A clause in property insurance policies prohibiting the insured from abandoning damaged property to the insurer for repair or disposal.
  3. A property insurance term referring to a loss that does not completely destroy or render useless the insured property or does not completely exhaust the applicable insurance limit.
  4. A pooling arrangement involving a group of people whereby dividends are paid to all individuals still living after a specified time period has elapsed at the expense of those who have died.
  5. Property coverage that provides for payment of a stipulated dollar amount (rather than the actual cash value or replacement cost of the property) in the event of total loss.
  6. All tangible property not classified as real property.
  7. An agreement under which an entity assuming risk (the "insurer") agrees to pay the indemnitee (the "insured") an agreed amount upon the occurrence of a specified event, such as an earthquake or hurricane of specified intensity.
  8. Commonly referred to as "flash floods," is principally caused by downpours in areas without adequate drainage.
  9. A provision attached to an insurance policy that restricts, excludes, or otherwise explains coverage for loss due to terrorist acts.
  10. Property insurance that insures against loss to covered property from all causes except those that are specifically excluded.
  11. Insurance covering liabilities such as customer slips and falls, property damage, theft, and employee injuries and illnesses.
  12. The cause having the most significant impact in bringing about the loss under a first-party property insurance policy, when two or more independent perils operate at the same time (i.e., concurrently) to produce a loss.
  13. A type of coverage afforded a vessel that is laid up for an extended time period, normally in excess of 30 days.
  14. A nonstandard commercial property insurance provision stating that the most the insured can collect for a loss at a given location is a specified percentage of the values reported for that location on the insured's statement of values.

Down

  1. An inland marine policy that protects the insured garment manufacturer against damage to or loss of garments on the manufacturer's premises, in transit, or in the custody of contractors or subcontractors.
  2. The amount for which an asset can be sold at the end of its useful life.
  3. Permanent additions or changes made to a building by a lessee at their own expense that may not legally be removed.
  4. An accident or event resulting from natural causes, without human intervention or agency, and one that could not have been prevented by reasonable foresight or care—for example, floods, lightning, earthquake, or storms.
  5. A property insurance term referring to policies that provide coverage only for loss caused by the perils specifically listed as covered.
  6. A property insurance endorsement or provision establishing market value (rather than actual cash value (ACV) or replacement cost (RC) value) as the valuation basis for covered property.