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Worker’s Compensation Board.

Synonymous with betting and gambling.

All types of remuneration one receives for personal services, including salaries, commissions, vacation pay, dismissal wages, bonuses and reasonable value of board, rent, housing, lodging, payments in kind, tips, etc.

The period of time during which an insurance policy is not in effect or for which no payment will be made on the policy.

v. To voluntarily give up a right.

The unilateral and voluntary relinquishment of a known right.

A clause contained in commercial property insurance policies which provides that the coinsurance penalty will not be applied in situations involving small losses even though insured may not be in compliance with coinsurance requirements, e.g., penalty waived for losses which are less than 2% of amount of insurance and less than $5000.

Provision stating coverage will not be prejudiced if the insured has waived any rights of recovery from a reasonable party in writing prior to a loss.

Reckless disregard of the safety or rights of others.

An act which evinces a reckless disregard to the life, health, reputation or property rights of another.