Archives

Amount indicated in policy representing amount that will be aid in the event of death, also referred to as “principal sum”.

Provision commonly found in property insurance policy providing coverage for cost of debris removal after an insured loss.

Sum of money owed to one person from another.

One who owes a debt. Anyone liable on a claim.

A fraudulent misrepresentation intended to deceive or trick another who is ignorant of the true facts.

Intentional misleading by spoken or acted falsehood. Synonymous with fraud.

Use of some measure of deceit in sale of goods or services.

Concrete floor or roof slab or form for a concrete floor or roof slab.

Portion of insurance policy containing the information regarding the risk, on the basis of which the policy is issued. In marine insurance, form used by insured in reporting shipments under an Open Cargo Policy when no evidence of insurance is required. Also, statement signed by insured warranting that information given by him is true.

Statements included in policy which are agreed to by the insured and form the basis of the contract of insurance.