application. A form on which the potential insured indicates the facts requested by the insurer, on the basis of which the insurer decides, with information from other sources, whether to accept the risk, modify the coverage offered or refuse the risk. In the United States, in-kind and accident insurers generally use similar, if not identical, language in their standard insurance, designed by advisory bodies such as the Insurance Services Office and the American Association of Insurance Services.  This reduces the regulatory burden on insurers, since forms of insurance must be approved by the states; it also makes it easier for consumers to compare policies, albeit at the expense of consumer choice.  In addition, when the political forms of the courts are reviewed, interpretations become more predictable when the courts develop the interpretation of the same clauses in the same forms of insurance and not the policies of different insurers.  Binder. An agreement executed by an agent or insurer (usually the latter) that enforces insurance before the contract is written or the premium is paid. This term is generally not used in life insurance. See also the title. The sled policy. The one who was convicted of non-payment of bonuses. Aggregate limit.
Generally, it applies to liability insurance and indicates the amount of coverage that the insured has, in accordance with the contract, for a specified period, usually the duration of the contract, regardless of the number of separate accidents that may occur. Under-insurance. A situation in which insurance is not sufficiently insured to cover the insurable value. clause. A section of a political treaty or approval dealing with a particular topic. Thus, a transfer clause deals with the insurer`s rights in the event of payment of contractual damage. loss. Generally refers to (1) the amount of the impairment of an insured`s assets resulting from an insured risk, 2) the amount claimed by an insured`s debt or (3) the amount paid in the name of an insured under an insurance contract.
Extended liability without owner. An approval that is added to a personal directive on cars in order to offer a broader liability coverage only for those specifically mentioned.