provisions Flashcards
provides additional coverage for specific loss expense at no additional cost
additional (supplementary) payments
in property insurance: claim settlement method through an independent appraiser when there is a dispute between the insurer and the insured
appraisal
in causality insurance claim settlement method through an incident arbitrator when there is a dispute between the insurer and the insured
arbitration
transfer of a legal right or interest in a policy
assignment
terms and conditions for policy termination
cancellation and nonrenewal
specific duties to corporate with the insurer in the investigation, settlement, or defense of a claim
duties of the insured after loss
adopting a policy revision that broadens coverage without additional cost to the insured
liberalization
termination of a policy at its expiration date
nonrenewal
insurers pay proportionate amount for any claim
other insurance
insured’s written and sworn statement regard a loss
proof of loss
the insurer’s right to seek damages from third parties after reimbursing the insured for the loss
subrogation
